SEC Grants Temporary Exemption From Certain Requirements of Rule 606 of Regulation NMS
Friday, March 27, 2020

On March 25, the Securities and Exchange Commission issued an Order granting the application by the Financial Information Forum (FIF) and Securities Traders Association (STA) for a temporary exemption from certain requirements of Rule 606 of Regulation NMS under the Securities Exchange Act of 1934, which requires broker-dealers to disclose certain information regarding the handling of their customers’ orders, as a result of COVID-19. The SEC granted the request of FIF and STA that the SEC: 1) delay the date by which broker-dealers must provide the public report of first quarter 2020 data required by Rule 606(a) to May 29, 2020; and 2) extend the date that broker-dealers that outsource routing must begin to collect the monthly customer-specific data for not held NMS stock orders required by Rule 606(b)(3) to June 1, 2020, and extend to July 29, 2020, the date by which broker-dealers must provide the customer-specific report of June 2020 data for customer requests that are made on or before July 17, 2020.

The SEC Order is available here.

 

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