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FINRA Rule 5210

Prohibits firms from publishing or circulating any report of a securities transaction or quotation unless they believe it is accurate, and it bars manipulative, deceptive, or fictitious trade reports or quotes.

Rule Overview

Jurisdiction: United States

Regulator: FINRA

Topic: Reporting, Market Abuse

FINRA Rule 5210
Overview
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Further Reading

What firms must do:

  • Firms may only publish or share information about a securities trade if they reasonably believe the trade actually occurred and was a legitimate purchase or sale.
  • Firms may only publish or share bid or offer prices if they reasonably believe the quotes are genuine and reflect real buying or selling interest.
  • Firms must not publish false, misleading, fictitious, or manipulative trade or quote information.
  • Firms must have controls in place to prevent false reporting, fictitious quotations, manipulative quoting practices, and problematic patterns of self-trading.
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