SEC Rule 606 Working Group - Overview

SEC Rule 606 requires firms to report on their order routing activity for NMS securities (i.e., listed equities and options). The Rule 606(a) report is a public report on the routing of (i) held equity orders and (ii) option orders that are less than $50K. The Rule 606(b)(3) report is for not held equity orders and must be provided to customers upon request. FINRA Rule 6470 expands routing reports to OTC equities. The FIF Rule 606 and FINRA Rule 6470 Working Group focuses on challenges with Rule 606 and Rule 6470 reporting.