The Financial Industry Regulatory Authority issued a Regulatory Notice to announce a filing it made with the Securities and Exchange Commission to adopt a limited exception to its trade reporting rules that will apply to certain transfers of proprietary positions in debt and equity securities between a FINRA member firm and another member firm or non-member broker-dealer. To qualify for the limited exception, the transfer must be effected in connection with a merger of one firm with the other firm or a direct or indirect acquisition of one firm by the other firm or the other firm’s parent company, and the transfer must not be in furtherance of a trading or investment strategy. The exception applies to the general requirement to report for tape publication purposes; qualifying transfers must continue to be reported to FINRA for regulatory purposes.  

Click here to read the FINRA Regulatory Notice