During its July 18 and 19 meeting, the Board of Governors of the Financial Industry Regulatory Authority (FINRA) approved four new rule proposals. The proposals relate to the following topics:

  1. Expansion of books and records custodians—The Board approved filing with the Securities and Exchange Commission proposed rule amendments to expand the categories of persons eligible to serve as books and records custodians.
  2. Electronic signatures—The Board approved filing with the SEC proposed rule amendments to permit electronic signatures to authorize discretion over a customer’s account.
  3. Expansion of over-the-counter (OTC) equity volume data published online—The Board approved publication of a Regulatory Notice that will seek comment on a proposal to expand the summary firm data published on the FINRA website relating to OTC trading volume.
  4. Identifying and reporting hedge transactions in US Treasury securities—The Board approved filing with the SEC a proposal that would provide firms with additional time to report to the Trade Reporting and Compliance engine (TRACE) transactions in US Treasury securities to hedge primary-market transactions. The proposal would also adopt a new modifier to identify such transactions.

More information about the recent meeting is available here.