22 Jul 2025
⏱️FINRA Proposes Rule Change for Timestamp Granularity Compliance
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 6860 of FINRA's Compliance Rule To Be Consistent With the Exemptive Relief Granted by the Commission From Certain Provisions Related to Timestamp Granularity
Summary
FINRA has filed a proposed rule change to extend the exemption on timestamp granularity requirements until April 8, 2030. This change aligns with an exemption granted by the SEC, allowing financial institutions to handle timestamp reporting more effectively without significant adjustments to their existing systems over the next five years.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change by FINRA extends the exemption deadline for timestamp granularity compliance from April 2025 to April 2030. This impacts businesses in the financial sector, as they must adhere to specific timestamp recording standards for data submission, affecting operational compliance and reporting practices.