Search
  • TITAN

SEC Announces Temporary Relief - Rule 606 of Regulation NMS



On March 25 the SEC announced temporary relief for the broker-dealer reporting requirements of Rule 606 of Regulation NMS. The rule requires broker-dealers to provide enhanced disclosure of information regarding the handling of their customers’ orders. Rule 606 requires broker-dealer provide public disclosures regarding aggregated order routing and disclosure regarding routing and execution of not held orders upon request of a customer that places such orders.

The order grants the following temporary exemptive relief from certain requirements of Rule 606:

(1) broker-dealers are exempt from the requirement to provide the public report covering the first quarter of 2020 required by Rule 606(a) until May 29, 2020;

(2) broker-dealers that engage in outsourced routing activity are exempt from the requirement to collect the monthly customer-specific data required by Rule 606(b)(3) for such activity until June 1, 2020, and are exempt until July 29, 2020, from the requirement to provide a customer-specific report of June 2020 outsourced routing data within seven business days for customer requests for such customer-specific reports that are made on or before July 17, 2020.

San Francisco | Chicago | New York

65 E. Wacker Pl STE 610 | Chicago, IL 60601

San Francisco Office

Send Us a Message

12 Geary St STE 502 | San Francisco, CA 94108

  • White LinkedIn Icon
  • White Instagram Icon
  • White Twitter Icon

© 2020 by Titan Regulation & Advisory