Title

SEC Proposes New and Enhanced Order Handling Disclosure Requirements
Client Memorandum

Created date

7/29/2016

On July 13, 2016, the Securities and Exchange Commission (“SEC") proposed amendments (the “Proposal”) to Rule 606 of Regulation NMS that would require, for the first time, broker-dealers to disclose standardized information on their handling of large, “institutional-size” orders—both in response to individual, customer requests and on a quarterly, aggregated basis.  The Proposal would also enhance current broker-dealer order routing disclosure requirements concerning smaller, “retail” orders.