FINRA Proposes Rule Change to Clarify Scope of Definition of "Asset-Backed Security" (Fed. Reg.)

The FINRA proposal to clarify the scope of the definition of "Asset-Backed Security" for purposes of reporting to FINRA's Trade Reporting and Compliance Engine ("TRACE") system was published in the Federal Register. It is effective immediately.

Comments on the rule change can be submitted until June 23, 2015.

See: 80 FR 31429. Related news: FINRA Proposes Rule Amendment to Clarify Definition of "Asset-Backed Security" in TRACE System (May 19, 2015).