FINRA proposed amending its rule on the collection
and distribution of "new issues reference data" for
corporate bonds and charge-associated fees. The proposal is
intended to create a new issue reference data service for corporate
bonds.
The proposed amendments to
Rule 6760 would specify additional required data elements.
Underwriters subject to Rule 6760 would be required to report,
among additional data elements:
- the International Securities
Identification Number;
- the base currency;
- the issue date;
- the first settlement date;
- the interest accrual date; and
- the day count description.
The proposal would require all data elements to be reported for
new issues in corporate debt securities before the first
transaction in the security.
