FINRA announced the effective date of amendments to modify the dissemination protocols for agency debt securities. The amendments will apply a $5 million dissemination cap for all agency debt securities (i.e., replacing the current $1 million dissemination cap for non-investment grade debt). The rule changes were approved by the SEC on October 5, 2018, and will go into effect on November 19, 2018.
According to FINRA, the proposal - which eliminates differential treatment based on the ratings assigned to securities - will simplify trade reporting and improve price transparency in these securities.
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