Mar. 07, 2023
March 7, 2023 The SEC is proposing changes to Rule 605 of Regulation NMS to ensure that investors receive the best execution of all investor orders, including limit orders, no matter where they originate. Brokers are currently required to file quarterly 606 reports to disclose order routing information and material relationships with execution venues. However, recent reports have revealed issues with compliance, including inaccurate information and incomplete disclosures. The SEC and FINRA have sent out risk alerts to address these concerns. Without accurate data, the new 605 reports will be of little benefit to retail investors. It is crucial for brokers to comply with the new regulations to level the playing field and provide a fair stock market for all investors. Retail demands a FAIR stock market.