The Financial Industry Regulatory Authority, Inc. (FINRA) has proposed a new rule, FINRA Rule 6152, requiring its members to submit their order execution reports for NMS stocks to FINRA for centralized publication on their website. This proposal aims to enhance accessibility and transparency of these reports, aligning with amendments to SEC Rule 605 that expand reporting requirements. The centralized publication will help regulators, investors, and others more easily access and compare data on execution quality among different market centers and brokers. The proposal is open for public comment as the Securities and Exchange Commission (SEC) considers its approval.
Simple Explanation
FINRA wants to make it easier for everyone to see and compare how well different stockbrokers and places where stocks are bought and sold are doing their jobs. They plan to do this by sharing more information online, so people can understand and choose the best options for trading stocks.