Expands TRACE Affiliate Indicator Scope to Member Affiliates
Summary
FINRA has filed SR-FINRA-2026-009 with the SEC, a proposed rule change to amend the FINRA Rule 6700 Series (Trade Reporting and Compliance Engine, or TRACE) to expand the scope of the non-member affiliate—principal transaction indicator to also include member affiliates. The proposed change would require member firms to apply the affiliate—principal transaction indicator to transactions involving member affiliates, in addition to the existing requirement for non-member affiliates. FINRA states this expansion will increase transparency in the fixed-income market by capturing a broader range of affiliate transactions under the TRACE reporting framework.
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What changed
FINRA proposes amending the Rule 6700 Series (TRACE) to expand the scope of the non-member affiliate—principal transaction indicator to also include member affiliates. Currently, TRACE reporting requires firms to flag transactions where the counterparty is a non-member affiliate of the reporting firm; this change would extend that flagging requirement to member affiliate transactions as well. Member firms should review their current TRACE reporting practices to assess what system or procedural changes may be needed to identify and report member affiliate transactions under the expanded indicator scope. The proposal is subject to SEC review and public comment before any final rule is adopted.
Archived snapshot
Apr 23, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
SR-FINRA-2026-009
Proposed Rule Change to Amend the FINRA Rule 6700 Series (Trade Reporting and Compliance Engine) (TRACE) to Expand the Scope of the Non-Member Affiliate—Principal Transaction Indicator to Also Include Member Affiliates
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend the FINRA Rule 6700 Series (Trade Reporting and Compliance Engine) (“TRACE”) to expand the scope of the non-member affiliate—principal transaction indicator to also include member affiliates.
| Title | Format - Size | Status |
|---|---|---|
| Text of the Proposed Rule Change | PDF - 1.98 MB | New |
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