FINRA Proposes Changes To Trading Halts Rule

FINRA filed with the SEC a proposed rule change to conform the rule on trading halts with recent changes to the Regulation NMS Plan to Address Extraordinary Volatility (the "Plan").

FINRA Rule 6121.01 ("Resumption of Trading in Securities Subject to the Regulation NMS Plan to Address Extraordinary Market Volatility") (the "Rule") concerns when a FINRA member may resume trading an NMS Stock subject to the Plan following a Trading Pause or Regulatory Halt. Under the proposal, FINRA Rule 6121.01 would be amended to line up with recent changes to the Plan that provide for a trading pause to "continue until the Primary Listing Exchange has reopened trading using its established reopening procedures, even if such reopening is more than 10 minutes after the beginning of a Trading Pause." Currently, subject to certain additional conditions, a member may "resume trading otherwise than on an exchange if trading has commenced in such NMS Stock on at least one other