United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2018_register executive 2018-11-17 article Part II Rules and Regulations D09002ee1c7de8fba D09002ee1c7de90c2 United States Securities and Exchange Commission originator org United States Government Agency or Subagency The Securities and Exchange Commission ("Commission" or "SEC") is adopting amendments to Regulation National Market System ("Regulation NMS") under the Securities Exchange Act of 1934 ("Exchange Act") to require additional disclosures by broker-dealers to customers regarding the handling of their orders. The Commission is adding a new disclosure requirement which requires a broker-dealer, upon request of its customer, to provide specific disclosures related to the routing and execution of the customer's NMS stock orders submitted on a not held basis for the prior six months, subject to two de minimis exceptions. The Commission also is amending the current order routing disclosures that broker-dealers must make publicly available on a quarterly basis to pertain to NMS stock orders submitted on a held basis, and the Commission is making targeted enhancements to these public disclosures. In connection with these new requirements, the Commission is amending Regulation NMS to include certain newly defined and redefined terms that are used in the amendments. The Commission also is amending Regulation NMS to require that the public order execution report be kept publicly available for a period of three years. Finally, the Commission is adopting conforming amendments and updating cross-references as a result of the rule amendments being adopted in this rule. 83 FR 58338 https://www.govinfo.gov/app/details/FR-2018-11-19/2018-24423 2018-24423 fr19no18-6 RIN 3235-AL67 8011-01-P Release No. 34-84528 File No. S7-14-16 https://www.govinfo.gov/app/details/FR-2018-11-19/2018-24423 https://www.govinfo.gov/content/pkg/FR-2018-11-19/html/2018-24423.htm https://www.govinfo.gov/content/pkg/FR-2018-11-19/pdf/2018-24423.pdf Brokers Dealers Registration Securities Reporting and Recordkeeping Requirements 92 p. 58338 58429 83 FR 58338 Title 17 Part 240 17 CFR Part 240 Title 17 Part 242 17 CFR Part 242 RIN 3235-AL67 Disclosure of Order Handling Information; Federal Register Vol. 83, Issue RULE 2018-24423 II SECURITIES AND EXCHANGE COMMISSION 2019-01-18 Release No. 34-84528 File No. S7-14-16 8011-01-P 2018-24423 Final rule.

The Securities and Exchange Commission ("Commission" or "SEC") is adopting amendments to Regulation National Market System ("Regulation NMS") under the Securities Exchange Act of 1934 ("Exchange Act") to require additional disclosures by broker-dealers to customers regarding the handling of their orders. The Commission is adding a new disclosure requirement which requires a broker-dealer, upon request of its customer, to provide specific disclosures related to the routing and execution of the customer's NMS stock orders submitted on a not held basis for the prior six months, subject to two de minimis exceptions. The Commission also is amending the current order routing disclosures that broker-dealers must make publicly available on a quarterly basis to pertain to NMS stock orders submitted on a held basis, and the Commission is making targeted enhancements to these public disclosures. In connection with these new requirements, the Commission is amending Regulation NMS to include certain newly defined and redefined terms that are used in the amendments. The Commission also is amending Regulation NMS to require that the public order execution report be kept publicly available for a period of three years. Finally, the Commission is adopting conforming amendments and updating cross-references as a result of the rule amendments being adopted in this rule.

Effective date: January 18, 2019. Theodore S. Venuti, Assistant Director, at (202) 551-5658, Steve Kuan, Special Counsel, at (202) 551- 5624, Sarah Albertson, Special Counsel, at (202) 551-5647, Michael Bradley, Special Counsel, at (202) 551-5594, Amir Katz, Special Counsel, at (202) 551-7653, Emerald Greywoode, Special Counsel, at (202) 551-7965, or Andrew Sherman, Special Counsel, at (202) 551-7255, Division of Trading and Markets, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549. Brokers Dealers Registration Securities Reporting and Recordkeeping Requirements Disclosure of Order Handling Information , http://www.finra.org/industry/web-crd/web-eft-schema-documentation-and-schema-files http://www.finra.org/sites/default/files/TechSpec_062718.pdf http://www.finra.org/sites/default/files/TechSpec_9122016.pdf http://www.morganstanley.com/institutional-sales/sec_rules_605_606 http://www.schwab.com/public/schwab/nn/legal_compliance/important_notices/order_routing.html http://www.sec.gov/comments/s7-02-10/s70210-428.pdf http://www.sec.gov/comments/s7-27-09/s72709-46.pdf http://www.sec.gov/comments/s7-27-09/s72709-48.pdf http://www.sec.gov/comments/s7-27-09/s72709.shtml http://www.sec.gov/spotlight/emsac/memo-rule-611-regulation-nms.pdf https://capitalmarkets.fidelity.com/app/item/RD_13569_21696.html https://fif.com/images/Retail_Execution_Quality_Statistics/FIF_Rule_605-606_WG_-_Retail_Execution_Quality_Stats_Wholesaler_Template.pdf https://us.spindices.com/documents/index-news-and-announcements/20171228-spdji-bard-huntington-games-ultra-press-release.pdf https://us.spindices.com/indices/equity/sp-500 https://www.sec.gov/comments/s7-14-16/s71416.htm https://www.sec.gov/litigation/opinions/2018/34-84432.pdf https://www.sec.gov/spotlight/emsac/emsac-recommendations-rules-605-606.pdf https://www.tdameritrade.com/disclosure.page https://www.ubs.com/us/en/wealth/misc/orderroutingdisclosure.html https://www.wellsfargoadvisors.com/disclosures/legal-disclosures.htm Vol. 83, no. 223 Office of the Federal Register, National Archives and Records Administration 2018-11-19 continuing daily deposited born digital 296 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2018-11-19 P0b002ee19dccbc23 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr19no18 https://www.govinfo.gov/app/details/FR-2018-11-19 https://www.govinfo.gov/content/pkg/FR-2018-11-19/pdf/FR-2018-11-19.pdf https://www.govinfo.gov/content/pkg/FR-2018-11-19/xml/FR-2018-11-19.xml fdlp 58175 58461 DGPO 2018-11-17 2024-06-01 FR-2018-11-19 machine generated eng FR FR-2018-11-19 83 223