FINRA reminded broker-dealers to adopt procedures to determine whether a transaction involves a "TRACE-Eligible Security" which is a reportable event. FINRA cautioned firms against overreliance on outdated lists. FINRA also stated that if a firm effects a transaction in a TRACE-Eligible Security that does not appear on the TRACE security master list, the firm should request FINRA Market Operations to activate the security in the TRACE system, so that the firm may then report the transaction to TRACE.
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