The Financial Industry Regulatory Authority is expected to promulgate new rules governing broker disclosure of trading activity in their alternative trading systems.
According to a report by Dow Jones, the new regulations will be forthcoming in the next few weeks. They were decided upon by FINRA’s board of governors earlier today. They would require operators of dark pools to disclose and detail the trading activity in their systems, Dow Jones said, reporting the data to FINRA every week.
In a report to members issued late Thursday, FINRA chief executive Rick Ketchum called the move “a real positive step from a market-integrity standpoint,” Dow Jones said.
Any rules must be made available for public comment and approved by the Securities and Exchange Commission.
