Observations Related to Regulation NMS Rule 606 Disclosures

This Risk Alert is intended to highlight observations from a series of examinations regarding how broker-dealers were complying with the new Regulation NMS disclosure requirements and to remind broker-dealers of the obligations under the new and enhanced Rule 606(a) requirements.  

The Risk Alert discusses the requirements of Rule 606(a) and issues observed with quantifiable disclosures, material aspects and supervision. Through this alert, the Division encourages broker-dealers to review their policies and procedures related to the new and enhanced information requirements under Rule 606 and reevaluate the accuracy and specificity of their current Rule 606(a) disclosures within the context of these exam observations.  

View the Risk Alert: Observations Related to Regulation NMS Rule 606 Disclosures