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ARTICLE · 10 JANUARY 2018

FINRA Proposes New Liquidity Reporting Requirements

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FINRA requested comments on proposed amendments to FINRA Rule 4521 (Notifications, Questionnaires and Reports).

United StatesFinance and Banking
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FINRA requested comments on proposed amendments to FINRA Rule 4521 (Notifications, Questionnaires and Reports). The amendments are intended to "improve FINRA's ability to monitor for events that signal an adverse change in the liquidity risk of the firms that would be subject to these new requirements." The proposed amendments would require certain broker-dealers to notify FINRA within 48 hours of the occurrence of a material negative event with respect to the firm's access to liquidity. 

The amendments also include a new Supplemental Liquidity Schedule ("SLS") that these broker-dealers would be required to file along with their FOCUS reports. Specifically, these firms would be required to report "information related to specified financing transactions and other sources or uses of liquidity" including the financing term, collateral types, and large counterparties.

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