FINRA Issues Proposal Regarding Exemptions from OATS Recording and Reporting Requirements (Fed. Reg.)

The FINRA proposal to amend Rule 7470 was published in the Federal Register. The proposal would provide a four-year extension of FINRA's ability to exempt certain members from the recording and reporting requirements of the Order Audit Trail System ("OATS") Rules for manual orders received by those members.

Although the proposal is effective immediately, comments may be submitted until July 8, 2015.

See: 80 FR 34727. Related news: FINRA Proposes Amendments Regarding Exemptions from OATS Recording and Reporting Requirements (June 11, 2015).