MSRB Rule G-14: Reports of Sales or Purchases (RTTR) and FINRA Rule 6700: Trade Reporting and Compliance Engine (TRACE)

Why Should You Attend:

This MSRB and FINRA regulations training draws on the expertise of veteran regulatory compliance officers with over 40 years’ combined experience. In addition to teaching detailed elements of RTTR and TRACE, it provides real-world examples that can be immediately applied in the workplace. It also includes answers to frequently asked questions to enhance your understanding of the material. The module has been developed to keep you engaged and to touch upon the daily issues that arise with trade reporting, including, but not limited to, FINRA’s focus during examinations.

Learning Objectives:

After participating in this module, you will have learned:

• Transactions that are eligible for reporting
• Recommended processes for transaction reporting, including time stamping of trades
• Fields that are required to be reported
• Who is responsible for reporting
• Recent changes and amendments to RTTR and TRACE
• How to avoid late trades
• Supervisory infrastructures for reviewing compliance with RTTR and TRACE

Learn beyond reading pages from regulatory manuals. This innovative training module is engaging and makes learning more interesting.

Areas Covered in the Seminar:

• The RTTR and TRACE reporting process, including a flowchart from time of execution to final reporting
• Inputting and monitoring RTTR and TRACE transactions in real time
• A listing of the fields to be input, and a description of each
• An understanding of each entities role in transaction reporting
• An understanding of step out and step in procedures
• Avoiding common errors
• Use of report cards and other management reporting tools provided by FINRA
• FINRA’s exam focus and regulatory inquiries regarding RTTR and TRACE
• Supervisory infrastructures
• Real world frequently asked questions

Who Will Benefit:

• Capital Markets Firms Back Office Support, Trader Assistants, and/or Sales Assistants
• Supervisors of Operations, Traders and/or Sales
• Regulatory Compliance Officers
• Risk Officers
• Internal Auditors
• Risk Managers

Instructor Profile:

Kimberly McManus, is currently President of Alternative Regulatory Solutions, LLC (ARS), a compliance consulting firm she founded in July 2009. Alternative Regulatory Solutions, LLC was established to provide Firms with fixed income and municipal regulatory guidance. In this capacity, ARS has contracted with large national firms, regional firms, and small boutique firms by performing various regulatory functions. ARS has created unique training modules for specific MSRB Rules. Ms. McManus has extensive experience in fixed income compliance, with expertise in the municipal market. Prior to establishing ARS, she had over twenty years’ experience with regional and national broker dealers in both the compliance and audit fields. In her latest role as Managing Director of Compliance with Wachovia Corporation, she was responsible for assessing and managing regulatory risk for public finance/government banking, bond trading and syndicate, sales (both institutional and retail), operations, and derivative/structured products. She was extremely instrumental in regulatory exams, inquires and investigations with the IRS, SEC, OCC, DOJ, FINRA and States Attorney General Offices. Prior to spending eighteen years at Wachovia (including its predecessor firms), she worked for Chase Manhattan Bank and Bankers Trust. She has been asked to speak as an industry professional by FINRA and trade organizations, such as the FMA on several occasions. She received her BS in Finance from Georgetown University in 1987 and holds the following licenses: Series 7 (General Securities Representative), Series 24 (General Securities Principal), Series 27 (Financial and Operations Principal), and Series 53 (Municipal Securities Principal), and the Series 79 (Investment Banking).

Topic Background:

The purpose and intent of MSRB Rule G-14: Reports of Sales or Purchases (RTTR) and FINRA Rule 6700: Trade Reporting and Compliance Engine (TRACE) ensures broker dealers report information about each purchase and sale transaction effected in eligible securities to either RTTR or TRACE in the manner prescribed by these rules. Transaction information collected by the MSRB and FINRA under these rules is used to make public reports of market activity and prices. The information specified under MSRB Rule G-14 and TRACE Rule 6700 is critical to public reporting of prices for transparency purposes and to the compilation of an audit trail for regulatory purposes. All broker dealers have an ongoing obligation to report this information promptly, accurately, and completely.

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