Dark Pools Face New U.S. Disclosure Requirements From Finra
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Securities regulators approved a plan to require U.S. off-exchange markets such as dark pools to boost disclosure about the transactions they handle.
The board of the Financial Industry Regulatory Authority, the private-sector overseer of U.S. brokerages, will propose rules to the government that would compel alternative trading systems to disclose the amount of volume they handle for each stock, according to a statement yesterday. Trading systems will also be assigned unique identification codes so it will be easier to track where each transaction takes place.