SEC’s Proposed Amendments to Broker-Dealers’ Order Routing Disclosures

September 07, 2016

The U.S. Securities and Exchange Commission (SEC) has published proposed amendments to Rule 606 under Regulation NMS of the Securities Exchange Act of 1934 (Exchange Act), which would require broker-dealers to disclose publicly on their websites, and upon the customer’s request, information regarding the handling of institutional orders, and to increase the information required to be disclosed regarding retail orders. “Institutional orders” are proposed to be defined as orders in NMS stocks (i.e., exchange-listed stocks) that are not for the account of a broker-dealer and have a market value of at least $200,000. Comments are due by September 26, 2016.

Read "SEC’s Proposed Amendments to Broker-Dealers’ Order Routing Disclosures."

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