FINRA proposed amending its rule on the collection and distribution of "new issues reference data" for corporate bonds and charge-associated fees. The proposal is intended to create a new issue reference data service for corporate bonds.
The proposed amendments to Rule 6760 would specify additional required data elements. Underwriters subject to Rule 6760 would be required to report, among additional data elements:
- the International Securities Identification Number;
- the base currency;
- the issue date;
- the first settlement date;
- the interest accrual date; and
- the day count description.
The proposal would require all data elements to be reported for new issues in corporate debt securities before the first transaction in the security.
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