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

FINRA's proposal to delay the implementation date of the Trade Reporting and Compliance Engine ("TRACE") rules was published in the Federal Register. The new proposal is effective immediately.

In light of the comments received by FINRA from market participants, it proposes to move the TRACE implementation date to July 13, 2015.

Previously, the SEC approved FINRA's proposal to amend the TRACE Rules 6700 series to (i) add a new contra-party type to be used in TRACE reports to identify a transaction with a nonmember affiliate, and (ii) require a firm to identify transactions with nonmember affiliates that meet specified conditions in order to allow FINRA to suppress the dissemination of such trade.

Comments regarding the delayed implementation date must be submitted by May 21, 2015.

See: 80 FR 24302.Related news: SEC Grants Approval of FINRA's Amendments to TRACE Rules (Fed. Reg.) (March 17, 2015); FINRA Proposes to Amend TRACE Rules (December 5, 2014).