The Securities and Exchange Commission has approved the Financial Industry Regulatory Authority’s proposed rule change to amend FINRA’s trade reporting and Order Audit Trail System rules. The implementation date for the new rules is November 10. Among other things, the rule change requires members to indicate on trade reports submitted to FINRA if a transaction is “short sale exempt” and, when an order is received or originated, to record the designation of an order as a short sale exempt order if the order may be marked “short exempt” pursuant to SEC Regulation SHO.