SEC Puts Brakes on Broker Trade Disclosure Rule Review
Published Date: 5/27/2025
Notice
Summary
The SEC is taking extra time to review FINRA’s new rule that would make brokers share detailed info about stock trades on their website. This affects anyone trading NMS stocks and aims to boost transparency without immediate cost changes. The SEC now has until July 10, 2025, to decide if this rule will move forward or not.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Publish NMS Order Execution Reports
FINRA filed a proposed Rule 6152 on April 2, 2025 that would require FINRA members to submit their order execution reports for NMS stocks to FINRA so FINRA can publish them on its website. The proposal was published for comment on April 11, 2025, and the SEC set July 10, 2025 as the deadline to approve, disapprove, or institute proceedings on the proposal.
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