FINRA seeks comment on proposal relating to OTC equity securities’ inter-dealer quotation system. FINRA published a Regulatory Notice requesting comment on a proposal to provide a FINRA-sponsored inter-dealer quotation facility for all OTC equity securities. The comment deadline is November 29, 2016. (8/31/2016) FINRA Regulatory Notice 16-34.
FINRA prepares firms for new requirements relating to use of the ADF for trade reporting purposes only. FINRA reminded firms that use the alternative display facility solely for trade reporting purposes that they will be required to participate in annual connectivity and capacity/stress testing and will be charged a monthly fee of US$500, effective September 12, 2016. (8/24/2016) FINRA Regulatory Notice 16-33.
MSRB seeks mark-up disclosure for municipal securities transactions. The MSRB announced its proposed plan requiring dealers to provide retail investors with information about the compensation that the dealers receive when buying municipal bonds from, or selling them to, investors. The proposed mark-up disclosure rule will be effective no later than one year after SEC approval. (9/2/2016)
NFA offers guidance to members on the designation of an Executive Representative for electronic voting purposes. The National Futures Association provided members with an overview of the process for designating an Executive Representative as part of the NFA’s new electronic voting process, which will be used during the 2017 election of members of NFA’s Board of Directors in October 2016. (8/24/2016) NFA Notice I-16-18.