FINRA Delays Implementation Date of Trade Reporting Amendments (Fed. Reg.)

FINRA-proposed rule changes to delay the implementation date of amendments to trade reporting rules pertaining to the OTC Reporting Facility ("ORF"), the Alternative Display Facility ("ADF") and the Trade Reporting Facilities ("TRFs") were published in the Federal Register. FINRA's proposal would delay the migration of the ORF to FINRA's multi-product platform from September 15 to November 17, 2014.

Additionally, FINRA proposed that the amendments to the ADF and TRF rules requiring firms to report time in milliseconds, if their systems capture milliseconds, would become effective on November 10, 2014. Additionally, FINRA proposed that the remaining amendments to the ADF and TRF trade reporting rules be made effective between March and April 30, 2015.

While the proposed rule was filed to be effective immediately, comments may be submitted until October 29, 2014.

See: 79 FR 60874. Related news: FINRA Proposes to Delay the Implementation Date of Trade Reporting Amendments (September 24, 2014); SEC Approves Amendments to Equity Trade Reporting and Order Audit Trail System ("OATS") Rules (FINRA Regulatory Notice 14-21) (May 15, 2014); FINRA Proposes Rule Relating to OTC Equity Trade Reporting and OATS Reporting (November 12, 2013).