Exam Alert: FINRA Changes TRACE Rules Regarding Trades in Asset-Backed Securities and Reduces Reporting Times

Effective April 27, 2015, FINRA will revise the definition of “asset-backed security” under its rules. Asset-backed securities will be required to be reported no later than 45 minutes from the time of execution, with minor exceptions. Continue reading

Effective April 27, 2015, FINRA will revise the definition of “asset-backed security” under its rules. The new definition will exclude mortgage-backed securities, certain SBA-backed securities, and collateralized debt, loan, and bond obligations. Dissemination of trades in asset-backed securities will be limited to this more narrow group of securities, but will include additional types of transactions. These transactions include Rule 144A transactions, list or fixed offering price transactions, and takedown transactions.

Asset-backed securities will be required to be reported no later than 45 minutes from the time of execution, with minor exceptions for transactions executed shortly before the TRACE system closes and when the TRACE system is closed.

Source: FINRA Regulatory Notice 14-34: SEC Approves Amendments to Disseminate Additional Asset-Backed Securities Transactions and to Reduce the Reporting Time for Such Transactions

This applies to the Series 7, Series 24, and Series 62.

Exam Alert: FINRA modifies TRACE trade dissemination and reporting rules

Effective July 22, 2013, FINRA will alter its rules for reporting and disseminating certain trades in mortgage-backed securities and asset-backed securities. Continue reading

Effective July 22, 2013, FINRA will alter its rules for reporting and disseminating certain trades in mortgage-backed securities and asset-backed securities. The transactions must be reported within 120 minutes of execution during a pilot period that lasts until January 20, 2014 – after the pilot period ends, they must be reported within 60 minutes. A new dissemination method for pool transactions will include various pieces of information about the pool, such as the weighted average coupon.

Source: FINRA Regulatory Notice 12-56: SEC Approves Amendments to TRACE Rules and Dissemination Protocols to Disseminate Specified Pool Transactions and SBA-Backed ABS Transactions and to Reduce the Time to Report Such Transactions

This alert applies to the Series 7, Series 24, and Series 62.

Exam Alert: TRACE pilot program for reporting asset-backed securities transactions to end

On November 18, 2011, a TRACE pilot program for reporting transactions in asset-backed securities will end. This shifts the old next-day reporting requirement to the new same-day reporting requirement for transactions in asset-backed securities that are executed before 5 PM ET. Continue reading

On November 18, 2011, a TRACE pilot program for reporting transactions in asset-backed securities will end.  This shifts the old next-day reporting requirement to the new same-day reporting requirement for transactions in asset-backed securities that are executed before 5 PM ET.  Transactions that happen after 5 PM ET will still be reported on the next day.

Source: Trade Reporting Notice – 11/7/11

Relevant to the Series 62 and the Series 24.

Exam Alert: SEC approves amendments to FINRA TRACE transaction reporting rules

The SEC has approved amendments to transaction reporting rules for FINRA’s TRACE system. Effective May 16, 2011, these amendments cover several Continue reading

The SEC has approved amendments to transaction reporting rules for FINRA’s TRACE system.  Effective May 16, 2011, these amendments cover several specific changes.  Some of these changes address the structure of the text of the rules, as well simplifying definitions and reporting requirements.  The changes add alternative reporting requirements and notification requirements for certain asset-backed securities transactions.  They also add the Financial Information eXchange (FIX) as a method to report transactions to TRACE.

http://www.finra.org/Industry/Regulation/Notices/2011/P123566