meta_id 3250384

On June 17, 2026, the Financial Industry Regulatory Authority (FINRA) published an Information Notice introducing a new electronic Rule 605 Designated Participant Authorization Form for members to streamline the process of obtaining unique reporter identification codes and providing hyperlinks to their Rule 605 execution quality reports. The new form becomes available through the FINRA Gateway on June 17, 2026, in advance of amendments to Rule 605 of the Securities and Exchange Commission (SEC) Regulation National Market System (NMS) and the Rule 605 NMS Plan, which take effect on August 1, 2026. The SEC adopted these amendments on March 6, 2024, to broaden the scope of entities required to file Rule 605 reports beyond market centers to include certain broker-dealers, as well as broker-dealers operating alternative trading systems (ATSs) and single dealer platforms (SDPs). The amendments also modify the scope and content of required monthly detailed execution quality disclosures and introduce a new monthly summary execution quality report. All members selecting FINRA as their Designated Participant and required to publish Rule 605 reports under the amended rule must submit the new electronic form. This requirement applies to both new entities becoming subject to Rule 605 for the first time and existing market centers already subject to Rule 605. Members required to publish Rule 605 reports for multiple functions must submit a separate form and obtain a separate unique reporter identification code for each function. The form requires firms to provide firm identification, market participant identifier, a four-character alphabetic reporter identification code, reporter type selection, the URL where Rule 605 reports will be published, firm contact information, and certification authorizing FINRA to act as Designated Participant. Firms can access and submit the form through the FINRA Gateway beginning June 17, 2026. The first set of monthly reports under the amended rule must be published before the end of September 2026.