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.
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