6530. Reporting Securities Loan Information

(a) Initial Covered Securities Loans 

(1) When and How Initial Covered Securities Loans Are Reported 

For Initial Covered Securities Loans, Covered Persons must report the information specified in paragraph (a)(2) of this Rule to SLATE, as provided in this paragraph (a)(1): 

(A) An Initial Covered Securities Loan effected on a business day at or after 12:00:00 a.m. Eastern Time through 7:00:00 p.m. Eastern Time must be reported the same day by 11:59:59 p.m. Eastern Time; 

(B) An Initial Covered Securities Loan effected on a business day after 7:00:00 p.m. Eastern Time must be reported no later than the next business day (T+1) by 11:59:59 p.m. Eastern Time; or 

(C) An Initial Covered Securities Loan effected on a Saturday, a Sunday, a federal or religious holiday or other day on which SLATE is not open at any time during that day (determined using Eastern Time) must be reported the next business day (T+1) by 11:59:59 p.m. Eastern Time. 

(2) Loan Information To Be Reported 

For Initial Covered Securities Loans, each SLATE report shall contain the following information: 

(A) The legal name of the security issuer and the Legal Entity Identifier (“LEI”) of the issuer (if the issuer has a non-lapsed LEI); 

(B) Security symbol, CUSIP, ISIN, or FIGI, or other security identifier; 

(C) The date the Covered Securities Loan was effected; 

(D) The time the Covered Securities Loan was effected; 

(E) The name of the platform or venue where the Covered Securities Loan was effected; 

(F) The amount of the Reportable Securities loaned; 

(G) The type of collateral used to secure the Covered Securities Loan; 

(H) For a Covered Securities Loan collateralized by cash, the rebate rate or any other fee or charges; 

(I) For a Covered Securities Loan not collateralized by cash, the securities lending fee or rate, or any other fee or charges; 

(J) The percentage of collateral to value of Reportable Securities loaned required to secure such Covered Securities Loan; 

(K) The termination date of the Covered Securities Loan; 

(L) Whether the borrower is a Broker or Dealer, a customer (if the person lending securities is a Broker or Dealer), a Clearing Agency, a Bank, a Custodian, or other person; 

(M) If known, the MPID of the Covered Person; 

(N) If known, the legal name of each party to the Covered Securities Loan (other than the customer from whom a Broker or Dealer borrows fully paid or excess margin securities pursuant to SEA Rule 15c3-3(b)(3)); 

(O) If known, the CRD Number or Investment Adviser Registration Depository Number of each party to the Covered Securities Loan; 

(P) If known, the MPID of each party to the Covered Securities Loan; 

(Q) If known, the LEI of each party to the Covered Securities Loan; 

(R) If known, whether each party to the Covered Securities Loan is the lender, the borrower, or an intermediary between the lender and the borrower; 

(S) If the person lending securities is a Broker or Dealer and the borrower is its customer, whether the security is loaned from the Broker’s or Dealer’s securities inventory to a customer of such Broker or Dealer; 

(T) If known, whether the Covered Securities Loan is being used to close out a fail to deliver pursuant to Rule 204 of SEC Regulation SHO or to close out a fail to deliver outside of Regulation SHO; and 

(U) Where a Covered Person’s daily submission includes two or more reports related to the same Covered Securities Loan (e.g., an Initial Covered Securities Loan and a Loan Modification to terminate the Covered Securities Loan) and FINRA has not yet assigned a unique identifier to the Initial Covered Securities Loan, a unique identifier assigned to the Covered Securities Loan by the Covered Person responsible for reporting the loan to SLATE.

(3) Reporting Loan Amounts 

Covered Persons must report loan amounts as provided below: 

(A) For a Covered Securities Loan of a security reportable to the CAT, report the number of shares loaned; or 

(B) For a Covered Securities Loan of a security reportable to TRACE or the MSRB’s RTRS, report the total par value of the loan.

(4) Reporting Loan Rates Based on a Spread to a Benchmark or Reference Rate 

(A) Report the rebate rate or lending fee or rate; or 

(B) Report: 

(i) the rebate rate or lending fee or rate as of the date the Covered Securities Loan was effected; 

(ii) the spread; and 

(iii) the identity of the benchmark or reference rate.

(b) Covered Securities Loan Modifications

(1) When and How Loan Modifications Are Reported 

For Loan Modifications, Covered Persons must report the information specified in paragraph (b)(2) of this Rule to SLATE, as provided in this paragraph (b)(1):

(A) A Loan Modification effected on a business day at or after 12:00:00 a.m. Eastern Time through 7:00:00 p.m. Eastern Time must be reported the same day by 11:59:59 p.m. Eastern Time;

(B) A Loan Modification effected on a business day after 7:00:00 p.m. Eastern Time must be reported no later than the next business day (T+1) by 11:59:59 p.m. Eastern Time; or

(C) A Loan Modification effected on a Saturday, a Sunday, a federal or religious holiday or other day on which SLATE is not open at any time during that day (determined using Eastern Time) must be reported the next business day (T+1) by 11:59:59 p.m. Eastern Time. 

(2) Loan Modifications – Information To Be Reported 

For Loan Modifications, each SLATE report shall contain the following information:

(A) The unique identifier assigned by FINRA to the Initial Covered Securities Loan, or where a Covered Person’s daily submission includes two or more reports related to the same Covered Securities Loan and FINRA has not yet assigned a unique identifier to the Covered Securities Loan, the identifier reported pursuant to paragraph (a)(2)(U) of this Rule;

(B) If known, the MPID of the Covered Person;

(C) The date of the Loan Modification;

(D) The time of the Loan Modification; and

(E)(i) If the Loan Modification occurs after the Data Elements for such Covered Securities Loan are reported to SLATE, and results in a change to information previously required to be reported to SLATE, the specific modification and the specific Data Elements being modified, or

(ii) If the Loan Modification is to a Covered Securities Loan for which reporting to SLATE was not required on the date the loan was agreed to or last modified and results in a change to any of the Data Elements, all Data Elements as of the date of modification and an identifier described in paragraph (a)(2)(U) of this Rule.

(c) Compliance With Reporting Obligations

(1) Covered Persons (other than Covered Persons that engage a Reporting Agent) have an ongoing obligation to report Initial Covered Securities Loans and Loan Modifications timely, accurately, and completely. A Covered Person may employ an agent for the purpose of submitting loan information to SLATE; however, unless the Covered Person has retained a Reporting Agent, the primary responsibility for the timely, accurate, and complete reporting of information pursuant to this Rule 6500 Series remains the non-delegable duty of the Covered Person with the reporting obligation.

(2) A member’s pattern or practice of late reporting without exceptional circumstances may be considered conduct inconsistent with high standards of commercial honor and just and equitable principles of trade, in violation of FINRA Rule 2010.

(3) If a Covered Person makes a good faith determination that it has a reporting obligation under SEA Rule 10c-1a, the Covered Person or Reporting Agent, as applicable, must report the Covered Securities Loan as provided in this Rule, and if the Reportable Security is not entered into the SLATE system, the Covered Person or Reporting Agent, as applicable, must promptly notify and provide FINRA Operations, in the form and manner required by FINRA, the information specified in Rule 6530(a)(2)(A) and (B), along with such other information as FINRA deems necessary to enter the Reportable Security for reporting through SLATE.

Adopted by SR-FINRA-2024-007 eff. Jan 2, 2026.