United States:
FINRA Proposes Three-Year Extension To OATS Exemptive Authority
25 July 2019
Cadwalader, Wickersham & Taft LLP
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FINRA proposed a three-year extension of its
authority under FINRA Rule 7470 to grant certain small
broker-dealers exemptions from the Order Audit Trail System
("OATS") recording and reporting requirements with
respect to manual orders. Under the proposal, FINRA's exemptive
authority would expire on July 11, 2022.
FINRA filed the proposed rule change for immediate
effectiveness.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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