meta_id 3353343

On July 24, 2026, the Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 26-15, requesting comment on modernizing its best execution guidance under FINRA Rule 5310 . The notice seeks input on how FINRA can update its interpretive guidance to ensure Rule 5310 remains effective as market structures evolve, particularly in light of the Securities and Exchange Commission's (SEC) proposal to rescind the trade-through rule under Regulation NMS Rule 611 and related locked and crossed market provisions under Rule 610(e). FINRA's best execution rule requires broker-dealers to use reasonable diligence to ascertain the best market for customer orders and execute them at the most favorable prices under prevailing market conditions. The SEC's proposed rescission of Rule 611 and Rule 610(e) would eliminate structural protections that have operated alongside broker-dealers' best execution obligations for over two decades. F FINRA seeks comment on nine key areas: Best execution standards post-rescission of Rules 611 and 610(e). Access fees and transaction costs. Best execution review standards. Institutional orders. Introducing and receiving firm obligations. Extended trading hours. Held and not held orders. Listed options. Emerging technologies including artificial intelligence and tokenized securities. The notice requests specific feedback on venue connection decisions, benchmarking execution quality without protected quotations, order routing standards, and compliance oversight approaches. FINRA also seeks input on whether safe harbors should be developed for certain activities and how best execution obligations should apply to algorithmic trading, block trades, and orders handled through request-for-quote platforms or single dealer platforms. The comment period expires on September 25, 2026. Comments must be submitted through FINRA's online comment form, email , or hard copy mail to Jennifer Piorko Mitchell, Office of the Corporate Secretary, FINRA, 1700 K Street, NW, Washington, DC 20006. All comments received will be made publicly available on the FINRA website.