United States:
Federal Register: FINRA Proposes Three-Year Extension To OATS Exemptive Authority
08 August 2019
Cadwalader, Wickersham & Taft LLP
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A FINRA proposal to extend exemptions to certain small
broker-dealers from the Order Audit Trail System ("OATS")
was published in the Federal Register.
As previously covered, FINRA
proposed a three-year extension of its authority under FINRA Rule 7470 ("Exemption to the Order
Recording and Data Transmission Requirements") to grant
exemptions from OATS. Under the proposal, FINRA's exemptive
authority would expire on July 11, 2022. The proposed rule change
was filed for immediate effectiveness.
Comments on the proposed amendments are due by August 21,
2019.
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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