FINRA Begins Public Dissemination of Rule 144A Transaction Data through TRACE | Practical Law

FINRA Begins Public Dissemination of Rule 144A Transaction Data through TRACE | Practical Law

The Financial Industry Regulatory Authority (FINRA) has begun publicly disseminating Rule 144A transaction data for corporate debt securities through its Trade Reporting and Compliance Engine (TRACE).

FINRA Begins Public Dissemination of Rule 144A Transaction Data through TRACE

Practical Law Legal Update 6-573-0665 (Approx. 2 pages)

FINRA Begins Public Dissemination of Rule 144A Transaction Data through TRACE

by Practical Law Corporate & Securities
Published on 01 Jul 2014 • USA (National/Federal)
The Financial Industry Regulatory Authority (FINRA) has begun publicly disseminating Rule 144A transaction data for corporate debt securities through its Trade Reporting and Compliance Engine (TRACE).
On June 30, 2014, the Financial Industry Regulatory Authority (FINRA) announced that it had begun publicly disseminating Rule 144A transaction data for corporate debt securities through its Trade Reporting and Compliance Engine (TRACE).
Though FINRA has historically reported Rule 144A transaction data through TRACE, until recently that data was not made available to the general public because of concerns about the effective prohibition on general solicitation in Rule 144A transactions.
After JOBS Act-related amendments to Rule 144A (effective September 23, 2013) that lifted the ban on general solicitation, FINRA amended TRACE to provide for public dissemination of Rule 144A transaction data. This data may now be accessed through FINRA's Market Data Center.
For more information about the JOBS Act-related amendments to Rule 144A, see Practice Note, JOBS Act: Regulation D and Rule 144A General Solicitation Summary.