NYSE reminds members of prohibition on disclosure of non-public order information in use of new telephone booths. The New York Stock Exchange LLC published an Information Memo that notifies members of new telephone booths on the 18 Broad Street side of the Trading Floor, which have been excluded from the definition of “Trading Floor” under amendments to Rule 6A. The Memo also reminds members of their obligation to have adequate policies and procedures in place to detect and prevent the disclosure of Floor-based non-public order information before they can use the telephone booths. (10/21/2016) NYSE Information Memo.


FINRA prepares firms for new reporting requirements for transactions in Treasury Securities. FINRA announced that the SEC approved its proposal to adopt new reporting requirements for transactions in Treasury Securities. Under the new rule, FINRA member firms will be required to report certain transactions in Treasury Securities, except savings bonds, to FINRA’s Trade Reporting and Compliance Engine (TRACE) starting on July 10, 2017. FINRA also published a Regulatory Notice that details the requirements of the new rule. In addition, FINRA published technical specifications describing the new reporting requirements. (10/19/2016)

FINRA offers guidance on changes to TRACE reporting rules for CMO transactions. FINRA announced that the SEC recently approved amendments to the TRACE rules and dissemination procedures related to transactions in collateralized mortgage obligations, which will become effective on March 20, 2017. Among other things, the rule amendments provide for the dissemination of CMO transactions based on transaction size and level of trading activity, reduce the timeframe for reporting transactions in CMOs executed after issuance, and simplify the reporting requirements for pre-issuance CMO transactions. (10/17/2016) FINRA Regulatory Notice 16-38.

FINRA offers guidance on new capital acquisition broker rules. FINRA provided an overview of its new rules that will apply to “capital acquisition brokers,” which include firms that engage in a limited range of activities such as advising companies and private equity funds on capital raising and corporate restructuring, and acting as placement agents for sales of unregistered securities to institutional investors under limited conditions. The new rules will become effective on April 14, 2017, except for the rules on CAB membership application and associated person registration, which will become effective on January 3, 2017. (10/17/2016) FINRA Regulatory Notice 16-37.

MSRB seeks input on strategic priorities. The Municipal Securities Rulemaking Board requested comments about the future development of its Electronic Municipal Market Access website as well as how the agency should prioritize its ongoing and future efforts. Comments are due on or before November 11, 2016. (10/12/2016) MSRB press release.