New reporting requirements for TRACE and OATS in 2011 |
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Market surveillance continues to be a strategic focus area for securities regulators, which is evident in the increasing regulatory reporting obligations of broker/dealers by regulatory authorities, such as Financial Industry Regulatory Authority (“FINRA”).
- Why needed: Provide more transparent markets for regulators, brokers/dealers and investors
- What this means to the broker/dealer industry: Potential changes or enhancements to current reporting systems
- What could broker/dealers be asking themselves relative to the recent regulator focus areas and these new rule changes, as described below:
- What is my regulatory track record with trade reporting (e.g., any recent disciplinary actions)?
- How do my current resources (e.g., regulatory and IT personnel) align to the changing trade reporting requirements?
- Have my change management processes, associated with the rule(s) changes, been effectively tested?
- Am I operating with sufficient preventative and detective controls to monitor effectively my new trade reporting requirement?
This report presents a summary of Trade Reporting and Compliance Engine (“TRACE”) and Order Audit Trail System (“OATS”) rules background, upcoming rule changes and potential challenges that broker/dealers may face with respect to regulatory compliance, including considerations for taking on these challenges.
Read the attachment to learn more.
New reporting requirements for TRACE and OATS in 2011
(660.96 KB)
