Thomas Veneziano, Head of North America Product

On Thursday, November 14th, FINRA published proposed changes to SLATE RULE 6500. These amendments address several comments and concerns from the industry.

 Although the requirements have been streamlined, they remain complex enough that vendor solutions will be best placed to ensure compliance without significant in-house development or increased headcount.

The SEC has until January 2nd, 2025, to review and either approve or disapprove the rule changes.

One critical point for our clients is that there has been no mention of altering the current timeline: UAT is still scheduled for July 2025, with a go-live date in January 2026. This means the window for ensuring compliance has significantly shortened. Consequently, leveraging vendor expertise in regulatory reporting is more crucial than ever.

If you have any questions or concerns about how this update and the SEC’s upcoming decision will impact your operations, please reach out to our team.