6730. Transaction Reporting

(a) When and How Transactions are Reported

Each member that is a Party to a Transaction in a TRACE-Eligible Security must report the transaction. A member must report a transaction in a TRACE-Eligible Security as soon as practicable, but no later than within 15 minutes of the Time of Execution, except as otherwise specifically provided below. Transactions not reported within the specified timeframe will be designated as "late." A member must transmit the report to TRACE during TRACE System Hours.

(1) Reporting Requirements

Except as otherwise specifically provided in paragraph (a)(2) through paragraph (a)(4), transactions in TRACE-Eligible Securities must be reported as provided in this paragraph (a)(1).

(A) Transactions Executed At or After 12:00:00 A.M. Through 7:59:59 A.M. Eastern Time

Transactions executed on a business day at or after 12:00:00 a.m. Eastern Time through 7:59:59 a.m. Eastern Time must be reported the same day no later than 15 minutes after the TRACE system opens.

(B) Transactions Executed During TRACE System Hours

Transactions executed on a business day at or after 8:00:00 a.m. Eastern Time through 6:29:59 p.m. Eastern Time (standard TRACE System Hours) must be reported within 15 minutes of the Time of Execution, except as provided in paragraph (a)(1)(C) below.

(C) Transactions Executed Less Than 15 Minutes Before TRACE System Closes

Transactions executed on a business day less than 15 minutes before 6:30:00 p.m. Eastern Time must be reported no later than 15 minutes after the TRACE system opens the next business day (T + 1), and if reported on T + 1, designated "as/of" and include the date of execution.

(D) Transactions Executed After TRACE System Hours or on Non-Business Days

Transactions executed on a business day at or after 6:30:00 p.m. Eastern Time through 11:59:59 p.m. Eastern Time or on a Saturday, a Sunday, a federal or religious holiday or other day on which the TRACE system is not open at any time during that day (determined using Eastern Time) must be reported the next business day (T + 1), no later than 15 minutes after the TRACE system opens, designated "as/of" and include the date of execution.

(2) Reporting Requirements — List or Fixed Offering Price Transactions and Takedown Transactions

(A) A List or Fixed Offering Price Transaction or a Takedown Transaction that is executed on a business day at or after 12:00:00 a.m. Eastern Time through 11:59:59 p.m. Eastern Time must be reported no later than the next business day (T + 1) during TRACE System Hours and if reported on T + 1, designated "as/of" and include the date of execution.

(B) List or Fixed Offering Price Transactions or Takedown Transactions executed on a Saturday, a Sunday, a federal or religious holiday or other day on which the TRACE system is not open at any time during that day (determined using Eastern Time) must be reported the next business day (T + 1) at any time during TRACE System Hours, designated "as/of" and include the date of execution.

(3) Reporting Requirements — Securitized Products Transactions

Transactions in Securitized Products must be reported as provided in this paragraph (a)(3).

(A) Collateralized Debt Obligations and Commercial Mortgage-Backed Securities

Except as provided in paragraphs (a)(3)(B), (a)(3)(C), (a)(3)(D), (a)(3)(E), (a)(3)(F) and (a)(3)(G), transactions in collateralized debt obligations (“CDOs”) and commercial mortgage-backed securities (“CMBSs”) executed on:

(i) a business day at or after 12:00:00 a.m. Eastern Time through 5:00:00 p.m. Eastern Time must be reported the same day during TRACE System Hours;

(ii) a business day after 5:00:00 p.m. Eastern Time but before the TRACE system closes must be reported no later than the next business day (T + 1) during TRACE System Hours, and, if reported on T + 1, designated "as/of" and include the date of execution; or

(iii) a business day at or after 6:30:00 p.m. Eastern Time through 11:59:59 p.m. Eastern Time, or a Saturday, a Sunday, a federal or religious holiday or other day on which the TRACE system is not open at any time during that day (determined using Eastern Time) must be reported the next business day (T + 1) during TRACE System Hours, designated "as/of" and include the date of execution.

(B) Asset-Backed Securities

Except for transactions in Asset-Backed Securities that meet the definition of List or Fixed Offering Price Transaction or a Takedown Transaction, which shall be reported as provided in paragraph (a)(2), transactions in Securitized Products that are Asset-Backed Securities shall be reported as provided in paragraph (a)(1)(A) through paragraph (a)(1)(D).

(C) Collateralized Mortgage Obligation Transactions Before Issuance

Transactions in Securitized Products that are Collateralized Mortgage Obligations ("CMOs") that are executed before the issuance of the security must be reported no later than the first settlement date of the security.

If the transaction is reported other than on the date of execution, the transaction report must be designated "as/of" and include the date of execution.

(D) Agency Pass-Through Mortgage-Backed Securities Traded To Be Announced For Good Delivery

Transactions in Securitized Products that are Agency Pass-Through Mortgage-Backed Securities traded TBA for good delivery ("GD") ("MBS TBA transactions GD") must be reported as provided in paragraph (a)(1)(A) through paragraph (a)(1)(D).

(E) Agency Pass-Through Mortgage-Backed Securities Traded To Be Announced Not For Good Delivery

Transactions in Securitized Products that are Agency Pass-Through Mortgage-Backed Securities traded TBA not for good delivery ("NGD") ("MBS TBA transactions NGD") must be reported as provided in this paragraph (a)(3)(E).

(i) Transactions executed on a business day at or after 12:00:00 a.m. Eastern Time through 7:59:59 a.m. Eastern Time must be reported the same day no later than 60 minutes after the TRACE system opens.

(ii) Transactions executed on a business day at or after 8:00:00 a.m. Eastern Time through 6:29:59 p.m. Eastern Time (standard TRACE System Hours) must be reported within 60 minutes of the Time of Execution, except as provided in paragraph (a)(3)(E)(iii) below.

(iii) Transactions executed on a business day less than 60 minutes before 6:30:00 p.m. Eastern Time must be reported no later than 60 minutes after the TRACE system opens the next business day (T + 1), and if reported on T + 1, designated "as/of" and include the date of execution.

(iv) Transactions executed on a business day at or after 6:30:00 p.m. Eastern Time through 11:59:59 p.m. Eastern Time or on a Saturday, a Sunday, a federal or religious holiday or other day on which the TRACE system is not open at any time during that day (determined using Eastern Time) must be reported the next business day (T + 1), no later than 60 minutes after the TRACE system opens, designated "as/of" and include the date of execution.

(F) Agency Pass-Through Mortgage-Backed Securities Traded in Specified Pool Transactions

Agency Pass-Through Mortgage-Backed Securities traded in Specified Pool Transactions ("MBS Specified Pool transactions") must be reported as provided in paragraph (a)(3)(E)(i) through paragraph(a)(3)(E)(iv).

(G) SBA-Backed ABS

SBA-Backed ABS traded TBA or in Specified Pool Transactions must be reported as provided in paragraph (a)(3)(E)(i) through paragraph (a)(3)(E)(iv).

(H) Collateralized Mortgage Obligation Transactions On or After Issuance

Transactions in CMOs executed at or after issuance must be reported as provided in this paragraph (a)(3)(H).

(4) Reporting Requirements — U.S. Treasury Securities

Transactions in U.S. Treasury Securities must be reported as soon as practicable, but no later than the time period specified in this paragraph (a)(4).

(A) General Reporting Requirements

Transactions in U.S. Treasury Securities executed on:

(i) a business day at or after 12:00:00 a.m. Eastern Time through 7:59:59 a.m. Eastern Time must be reported the same day no later than 60 minutes after the TRACE system opens;

(ii) a business day at or after 8:00:00 a.m. Eastern Time through 6:29:59 p.m. Eastern Time (standard TRACE System Hours) must be reported within 60 minutes of the Time of Execution, except as provided in paragraph (a)(4)(A)(iii) of this Rule;

(iii) a business day less than 60 minutes before 6:30:00 p.m. Eastern Time must be reported no later than 60 minutes after the TRACE system opens the next business day (T + 1), and if reported on T + 1, designated “as/of” and include the date of execution; or

(iv) a business day at or after 6:30:00 p.m. Eastern Time through 11:59:59 p.m. Eastern Time, or a Saturday, a Sunday, a federal or religious holiday or other day on which the TRACE system is not open at any time during that day (determined using Eastern Time) must be reported the next business day (T + 1) no later than 60 minutes after the TRACE system opens, designated "as/of" and include the date of execution.

(B) Transactions in U.S. Treasury Securities Executed to Hedge List or Fixed Offering Price or Takedown Transactions

Transactions in U.S. Treasury Securities executed to hedge a List or Fixed Offering Price Transaction or a Takedown Transaction must be reported no later than the next business day (T+1) during TRACE System Hours and, if reported on T+1, designated “as/of” and include the date of execution.

(5) Reporting Requirements — Foreign Sovereign Debt Securities

Transactions in a Foreign Sovereign Debt Security must be reported as provided in this paragraph (a)(5).

(A) General Reporting Requirements

Transactions in Foreign Sovereign Debt Securities executed on:

(i) a business day at or after 12:00:00 a.m. Eastern Time through 5:00:00 p.m. Eastern Time must be reported the same day during TRACE System Hours;

(ii) a business day after 5:00:00 p.m. Eastern Time but before the TRACE system closes must be reported no later than the next business day (T+1) during TRACE System Hours, and, if reported on T+1, designated “as/of” and include the date of execution; or

(iii) a business day at or after 6:30:00 p.m. Eastern Time through 11:59:59 p.m. Eastern Time, or a Saturday, a Sunday, a federal or religious holiday or other day on which the TRACE system is not open at any time during that day (determined using Eastern Time) must be reported the next business day (T+1) during TRACE System Hours, designated “as/of” and include the date of execution.

(6) Members have an ongoing obligation to report transaction information promptly, accurately, and completely. The member may employ an agent for the purpose of submitting transaction information. However, the primary responsibility for the timely, accurate, and complete reporting of transaction information remains the non-delegable duty of the member obligated to report the transaction.

(7) A member may be required to report as soon as practicable to the Market Regulation Department on a paper form, the transaction information required under Rule 6730 if electronic submission into TRACE is not possible. Transactions that can be reported into TRACE, including transactions executed on a Saturday, a Sunday, a federal or religious holiday or other day on which the TRACE system is not open at any time during that day (determined using Eastern Time), and transactions that can be submitted on the trade date or a subsequent date on an "as/of" basis shall not be reported on a paper form.

(8) If a member that is a Party to a Transaction makes a good faith determination that a transaction involves a TRACE-Eligible Security, the member must report the transaction as provided in this Rule, and if the TRACE-Eligible Security is not entered in the TRACE system, the member must promptly notify and provide FINRA Operations the information required under Rule 6760(b) prior to reporting the transaction.

(b) Which Party Reports Transaction

Trade data input obligations are as follows:

(1) In transactions between two members, both members shall submit a trade report to TRACE;

(2) In transactions involving a member and a non-member, including a customer, the member shall submit a trade report to TRACE.

(c) Transaction Information To Be Reported

Each TRACE trade report shall contain the following information:

(1) CUSIP number or if a CUSIP number is not available at the Time of Execution, a similar numeric identifier (e.g., a mortgage pool number) or a FINRA symbol;

(2) The size (volume) of the transaction as required by paragraph (d)(2) below;

(3) Price of the transaction (or the elements necessary to calculate price, which are contract amount and accrued interest) or, for When-Issued Transactions in U.S. Treasury Securities executed before the Auction for the security, the yield as required by paragraph (d)(1) of this Rule;

(4) A symbol indicating whether the transaction is a buy or a sell;

(5) Date of Trade Execution ("as/of" trades only);

(6) Contra-party's identifier (MPID, customer, or a non-member affiliate, as applicable);

(7) Capacity — Principal or Agent (with riskless principal reported as principal);

(8) Time of Execution;

(9) Reporting side executing broker as "give-up" (if any);

(10) Contra side Introducing Broker in case of "give-up" trade;

(11) The commission (total dollar amount), if applicable;

(12) Date of settlement;

(13) If the member is reporting a transaction that occurred on an ATS pursuant to Rule 6732, the ATS's separate MPID obtained in compliance with Rule 6720(c); and

(14) Such trade modifiers as required by either the TRACE rules or the TRACE users guide.

(d) Procedures for Reporting Price, Capacity, Volume

(1) Price

(A) Except as noted in subparagraph (B), for principal transactions, report the price, which must include the mark-up or mark-down. (However, if a price field is not available, report the contract amount and, if applicable, the accrued interest.) For agency transactions, report the price, which must exclude the commission. (However, if a price field is not available, report the contract amount and, if applicable, the accrued interest.) Report the total dollar amount of the commission if one is assessed on the transaction. Notwithstanding the foregoing, a member is not required to include a commission, mark-up or mark-down where one is not assessed on a trade-by-trade basis at the time of the transaction or where the amount is not known at the time the trade report is due. A member must use the "No Remuneration" indicator described in paragraph (d)(4)(F) where a trade report does not reflect either a commission, mark-up or mark-down, except for an inter-dealer transaction, a "List or Fixed Offering Price Transaction," as defined in Rule 6710(q), or a "Takedown Transaction," as defined in Rule 6710(r).

(B) For When-Issued Transactions in U.S. Treasury Securities executed before the Auction for the security and conducted on a principal basis, report the yield, which must include the mark-up or mark-down, of the security in lieu of price. For When-Issued Transactions in U.S. Treasury Securities executed before the Auction for the security and conducted on an agency basis, report the yield, which must exclude the commission, of the security in lieu of price. Report the total dollar amount of the commission.

(2) Size (Volume)

(A) General

For a transaction in a TRACE-Eligible Security, except a Securitized Product, report the total par value or principal value of the security traded.

(B) Securitized Products

(i) For a transaction in a Securitized Product traded TBA ("TBA transaction"), report the original face value of such security.

(ii) For a transaction, other than a TBA transaction, in a Securitized Product that is subject to amortization, report the original face value of such security and, if a member uses a Factor to execute the transaction that is not the most current Factor publicly available at the Time of Execution, report the Factor used, except as provided in subparagraph (iv) below regarding certain transactions executed in an agency capacity.

(iii) For a transaction in a Securitized Product that does not amortize, report the total par value, principal value or original face value of such security, except as provided in subparagraph (iv) below regarding certain transactions executed in an agency capacity.

(iv) For a transaction, other than a TBA transaction, in a Securitized Product that is executed in an agency capacity and subject to a commission charge, report the original face value of such security and the Factor used to execute the transaction.

(3) Crosses

For in-house cross transactions, a member must report two transactions, which are the member's purchase transaction and the member's sale transaction.

(4) Modifiers and Indicators

Members shall append the applicable trade report modifiers or indicators as specified by FINRA to all transaction reports.

(A) Special Price Modifier

If a transaction is not executed at a price that reflects the current market price, select the modifier, "special price." When the reporting method chosen provides a "special price memo" field, state why the transaction was executed at other than the current market price in the "special price memo" field (e.g., when a debt security is traded conventionally and in the current market does not have a due bill and/or a warrant attached, but in the transaction to be reported is traded with a due bill and/or warrant attached, the price of the transaction is a "special price"). Do not select the modifier, "special price," where the transaction price is determined using a weighted average price.

(B) Weighted Average Price Modifier

If the price of the transaction is determined using a weighted average price method, select the modifier, ".w."

(C) List or Fixed Offering Price Transaction or Takedown Transaction Indicator

If reporting a primary market transaction that is a List or Fixed Offering Price Transaction or a Takedown Transaction, select the appropriate indicator.

(D) Securitized Product Indicators

Select the indicator:

(i) ".O," if the transaction is a Specified Pool Transaction;

(ii) ".N," if the transaction is a Stipulation Transaction;

(iii) ".D," if the transaction is a Dollar Roll; or

(iv) ".L," if the transaction is a Dollar Roll and a Stipulation Transaction.

(E) Non-member Affiliate—Principal Transaction Indicator

If reporting a transaction with a "non-member affiliate," as defined in Rule 6710, in which both the member and non-member affiliate act in a principal capacity, and that occurs within the same day, at the same price and in the same security as a transaction by the member with another contra-party, select the non-member affiliate—principal transaction indicator. If a member does not reasonably expect to engage in a subsequent same day, same price transaction in the same security with another contra-party, the member is not required to append the principal transaction indicator or subsequently correct a prior trade report with its non-member affiliate solely for the purpose of appending the non-member affiliate—principal transaction indicator. If, however, a member appends the non-member affiliate—principal transaction indicator to a trade report reflecting a transaction with a non-member affiliate and, ultimately, does not engage in a same day, same price transaction in the same security with another contra-party, the member must correct the prior trade report to exclude the non-member affiliate—principal transaction indicator.

(F) No Remuneration Indicator

Where a trade report does not reflect either a commission, mark-up or mark-down, select the "No Remuneration" indicator, subject to the exceptions provided in paragraph (d)(1) above.

(G) U.S. Treasury Security Indicators and Modifiers

(i) If reporting a When-Issued Transaction, select the appropriate indicator.

(ii) Select the modifier:

a. ".B," if the transaction is part of a series of transactions where at least one of the transactions involves a futures contract;

b. ".S," if the transaction is part of a series of transactions and may not be priced based on the current market.

(iii) If reporting a transaction executed to hedge a List or Fixed Offering Price Transaction or Takedown Transaction, select the appropriate modifier.

(H) Portfolio Trade Modifier

If reporting a transaction in a corporate bond: (i) executed between only two parties; (ii) involving a basket of corporate bonds of at least 10 unique issues; and (iii) for a single agreed price for the entire basket, select the appropriate modifier.

(e) Reporting Requirements for Certain Transactions and Transfers of Securities

The following shall not be reported:

(1) Transfers of TRACE-Eligible Securities for the sole purpose of creating or redeeming an instrument that evidences ownership of or otherwise tracks the underlying securities transferred (e.g., an exchange-traded fund).

(2) Transactions in TRACE-Eligible Securities that are listed on a national securities exchange, when such transactions are executed on and reported to the exchange and the transaction information is disseminated publicly.

(3) Transactions where the buyer and the seller have agreed to trade at a price substantially unrelated to the current market for the TRACE-Eligible Security (e.g., to allow the seller to make a gift).

(4) Provided that a data sharing agreement between FINRA and NYSE related to transactions covered by this Rule remains in effect, transactions in TRACE-Eligible Securities that are executed on a facility of NYSE in accordance with NYSE Rules 1400, 1401 and 86 and disseminated publicly by NYSE.

(5) Transactions resulting from the exercise or settlement of an option or a similar instrument, or the termination or settlement of a credit default swap, other type of swap, or a similar instrument.

(6) Transfers of securities made pursuant to an asset purchase agreement (APA) that is subject to the jurisdiction and approval of a court of competent jurisdiction in insolvency matters, provided that the purchase price under the APA is not based on, and cannot be adjusted to reflect, the current market prices of the securities on or following the effective date of the APA.

(7) Bona fide repurchase and reverse repurchase transactions involving TRACE-Eligible Securities.

(8) Auction Transactions.

(f) Compliance With Reporting Obligations

A pattern or practice of late reporting without exceptional circumstances may be considered conduct inconsistent with high standards of commercial honor and just and equitable principles of trade, in violation of Rule 2010.

• • • Supplementary Material: --------------

.01 Scope of Factor Reporting Requirement. For transactions, other than TBA transactions, in Securitized Products executed in an agency capacity and subject to a commission charge, members must report the Factor for every such transaction, including a transaction where the Factor is 1.0.

.02 For purposes of compliance with paragraphs (c)(6) and (d)(4)(E), a member must identify those entities that would meet the definition of "non-member affiliate" at least annually. However, where the member has undergone an organizational or operational restructuring that may impact its non-member affiliate relationships, it must promptly review and update, as necessary, its identification of non-member affiliates for purposes of this rule.

.03 Trade Reporting Time Frame

(a) Each member with an obligation to report a transaction in a TRACE-Eligible Security “as soon as practicable” pursuant to paragraph (a) of this Rule must adopt policies and procedures reasonably designed to comply with this requirement by implementing systems that commence the trade reporting process at the Time of Execution without delay. Where a member has such reasonably designed policies, procedures and systems in place, the member generally will not be viewed as violating the “as soon as practicable” requirement because of delays in trade reporting that are due to extrinsic factors that are not reasonably predictable and where the member does not purposely intend to delay the reporting of the trade. In no event may a member purposely withhold trade reports, e.g., by programming its systems to delay reporting until the end of the reporting time period.

(b) FINRA recognizes that members may manually report transactions in TRACE-Eligible Securities and, as a result, the trade reporting process may not be completed as quickly as where an automated trade reporting system is used. In these cases, FINRA will take into consideration the manual nature of the member's trade reporting process in determining whether the member's policies and procedures are reasonably designed to report the trade “as soon as practicable” after execution.

.04 Time of Execution for Transactions in U.S. Treasury Securities. When reporting transactions in U.S. Treasury Securities executed electronically, members must report the Time of Execution pursuant to paragraph (c)(8) of this Rule to the finest increment of time captured by the execution system (e.g., millisecond, microsecond), but reporting must be in an increment of (i) no longer than a second and (ii) no shorter than a microsecond.

.05 STRIPS Program (Separate Trading of Registered Interest and Principal of Securities). Members are not required to report transactions undertaken as part of the process of separating and reconstituting securities pursuant to the STRIPS Program operated by the U.S. Department of Treasury under which eligible U.S. Treasury Securities are authorized to be separated into principal and interest components and transferred separately.

.06 ATS Identification of Non-FINRA Member Counterparties for Transactions in U.S. Treasury Securities

(a) Each “covered ATS,” as defined below, must provide to FINRA a list of all of its non-FINRA member subscribers, as that term is defined in Rule 300 of SEC Regulation ATS, and must obtain from FINRA an MPID for each such subscriber. Each covered ATS must comply with paragraph (c)(6) of this Rule by identifying each non-FINRA member subscriber in the contra-party field using the MPID assigned by FINRA for the subscriber. A covered ATS may not identify a contra-party using the “customer” or “non-member affiliate” identifiers.

(b) For purposes of this Supplementary Material .07, a “covered ATS” is an alternative trading system (“ATS”), as that term is defined in Rule 300 of SEC Regulation ATS, that executed transactions in U.S. Treasury Securities against non-FINRA member subscribers of $10 billion or more in monthly par value, computed by aggregating buy and sell transactions, for any two months in the preceding calendar quarter.

(c) An ATS must commence complying with the requirements of this Supplementary Material .07 within 60 calendar days of the end of the calendar quarter in which it becomes a covered ATS.

(d) Once an ATS is deemed a covered ATS, it must continue to comply with the requirements of this Supplementary Material .07 irrespective of whether its volume of executed transactions in U.S. Treasury Securities against non-FINRA member subscribers falls below $10 billion or more in monthly par value in any two months in a calendar quarter.

.07 Exception for Members with Limited Trading Volume in U.S. Treasury Securities

(a) Supplementary Material .04 shall not apply to a member with limited trading volume in U.S. Treasury Securities, as defined in paragraph (b) of this Supplementary Material .07, provided that, when reporting transactions in U.S. Treasury Securities executed electronically, such member reports the Time of Execution pursuant to paragraph (c)(8) of this Rule to the finest increment of time captured in the member’s system (e.g., millisecond, microsecond), but reporting must be in an increment of: (i) no longer than a second and (ii) no shorter than a microsecond.

(b) For purposes of this Supplementary Material .07, a “member with limited trading volume in U.S. Treasury Securities” is a member that executed transactions in U.S. Treasury Securities of $10 million or less in average daily par value, computed by aggregating buy and sell transactions, during the preceding calendar year.

(c) A member relying on the exception under paragraph (a) of this Supplementary Material .07 shall confirm on an annual basis that it continues to meet the criteria for a “member with limited trading volume in U.S. Treasury Securities” set forth in paragraph (b) of this Supplementary Material .07. If a member no longer meets the criteria set forth in paragraph (b) in a given calendar year, such member shall no longer be eligible for the exception under paragraph (a) beginning 90 days after the end of such calendar year. Thereafter, such member may no longer rely on the exception under paragraph (a), irrespective of whether such member meets the criteria in a subsequent calendar year, except where the member has changed business lines or undergone a corporate restructuring that significantly impacts its level of activity in U.S. Treasury Securities.

Amended by SR-FINRA-2022-013 eff. May 15, 2023 and Nov. 6, 2023.
Amended by SR-FINRA-2022-011 eff. Nov. 6, 2023.
Amended by SR-FINRA-2021-030 eff. May 15, 2023.
Amended by SR-FINRA-2019-014 and SR-FINRA-2020-010 eff. Aug. 3, 2020.
Amended by SR-FINRA-2018-023 eff. April 1, 2019.
Amended by SR-FINRA-2018-014 eff. July 10, 2018.
Amended by SR-FINRA-2017-018 eff. Feb. 5, 2018.
Amended by SR-FINRA-2017-032 eff. Oct. 20, 2017.
Amended by SR-FINRA-2017-024 eff. July 10, 2017.
Amended by SR-FINRA-2017-023 eff. July 10, 2017.
Amended by SR-FINRA-2016-027 eff. July 10, 2017.
Amended by SR-FINRA-2016-046 eff. July 10, 2017.
Amended by SR-FINRA-2016-023 eff. March 20, 2017.
Amended by SR-FINRA-2015-055 eff. July 18, 2016.
Amended by SR-FINRA-2015-026 and SR-FINRA-2016-003 eff. July 18, 2016.
Amended by SR-FINRA-2015-025 eff. Nov. 30, 2015.
Amended by SR-FINRA-2014-050 eff. Nov. 2, 2015.
Amended by SR-FINRA-2015-037 eff. Oct. 23, 2015.
Amended by SR-FINRA-2013-046 eff. June 1, 2015.
Amended by SR-FINRA-2013-038 eff. Oct. 25, 2013.
Amended by SR-FINRA-2012-052 eff. July 22, 2013.
Amended by SR-FINRA-2012-042 eff. July 22, 2013.
Amended by SR-FINRA-2012-020 eff. Nov. 12, 2012.
Amended by SR-FINRA-2012-047 eff. Oct. 12, 2012.
Amended by SR-FINRA-2012-034 eff. Aug. 10, 2012.
Amended by SR-FINRA-2011-053 eff. Feb. 6, 2012.
Amended by SR-FINRA-2011-072 eff. Jan. 27, 2012.
Amended by SR-FINRA-2011-025 eff. July 8, 2011.
Amended by SR-FINRA-2011-012 eff. May 16, 2011.
Amended by SR-FINRA-2009-065 eff. May 16, 2011.
Amended by SR-FINRA-2011-002 eff. Jan. 5, 2011.
Amended by SR-FINRA-2011-001 eff. Jan. 4, 2011.
Amended by SR-FINRA-2009-010 eff. March 1, 2010.
Amended by SR-FINRA-2009-002 eff. Jan 12, 2009.
Amended by SR-FINRA-2008-060 eff. Jan. 12, 2009.
Amended by SR-FINRA-2008-065 eff. Jan. 8, 2009.
Amended by SR-FINRA-2008-057 eff. Dec. 15, 2008.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Amended by SR-FINRA-2007-007 eff. Dec. 13, 2007.
Amended by SR-NASD-2006-110 eff. Jan. 9, 2007.
Amended by SR-NASD-2004-57 Stage 2 eff. July 1, 2005.
Amended by SR-NASD-2004-57 Stage 1 eff. Oct. 1, 2004.
Amended by SR-NASD-2003-182 eff. June 17, 2004.
Amended by SR-NASD-2003-78 eff. Oct. 1, 2003.
Amended by SR-NASD-2002-46 eff. July 1, 2002.
Amended by SR-NASD-2001-04 eff. July 1, 2002.
Adopted by SR-NASD-99-65 eff. July 1, 2002.

Selected Notices: 02-76, 03-36, 04-39, 04-51, 07-18, 07-61, 08-57, 09-57, 10-23, 10-55, 11-20, 11-53, 12-26, 12-48, 12-56, 13-15, 14-34, 15-14, 15-41, 15-47, 16-15, 16-38, 16-39, 18-34, 19-30, 22-12, 22-27, 22-28.