BROKER-DEALER -

FINRA Proposes Amendment to Transactions in Exchange-Traded Managed Fund Shares Rule -

On March 29, the Financial Industry Regulatory Authority filed with the Securities and Exchange Commission a proposed amendment to FINRA Rule 6184 (Transactions in Exchange-Traded Managed Fund Shares (NextShares)). The amended rule would require the FINRA/NASDAQ Trade Reporting Facility (FINRA/NASDAQ TRF) to provide market participants with access to the final trade price for each over-the-counter (OTC) transaction in NextShares reported to the FINRA/NASDQ TRF for public dissemination purposes. Such change is intended to further enhance market transparency and price discovery by ensuring market participants have access to additional pricing information relating to OTC transactions in NextShares.