January 22, 2022

Volume XII, Number 22

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FINRA Amends Rule Regarding the Online Publication of Data Related to the Regulation NMS Plan to Implement a Tick Size Pilot Program

On April 28, the Financial Industry Regulatory Authority filed with the Securities and Exchange Commission an amendment to Rule 6191 (Compliance with Regulation NMS Plan to Implement a Tick Size Pilot Program), which modifies the publication date for Appendix B website data related to the Regulation NMS Plan to Implement a Tick Size Pilot Program (the Plan). (For a more complete discussion of the Plan, see the May 8, 2015 edition of Corporate and Financial Weekly Digest). Prior to the rule filing, Rule 6191.12 required FINRA to make publicly available on its website certain data regarding the Plan’s Pre-Pilot and Pilot Period beginning on April 28. The rule filing allows Appendix B data for a given month to be published within 120 calendar days following month end. The delayed publication date is intended to provide FINRA with additional time to consider a methodology to mitigate concerns raised in connection with the publication of Appendix B data. FINRA requested that the rule change become effective upon filing.

A copy of the rule is available here.

©2022 Katten Muchin Rosenman LLPNational Law Review, Volume VII, Number 125
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About this Author

Our Financial Services Practice advises a broad spectrum of domestic and international fund managers, trading advisors, banks, brokerages and proprietary trading firms in all aspects of exchange-traded and over-the-counter commodities, securities and derivatives transactions. We help clients find business-based solutions and make business-driven decisions that are in compliance with applicable regulatory requirements. Our lawyers have extensive experience in the financial markets and are fully attuned to the need to provide advice quickly and efficiently in light of the time-sensitive and...

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