For the second time in two years, the watchdog for broker-dealers is warning traders they are obligated to send clients accurate indications of interest.

FINRA is proposing to amend its Rule 5210 which prohibits brokers from calling an IOI "natural" when it is not. FINRA wants broker-dealers to label an IOI as "natural" only when they have a real customer order in their order management systems or order tickets. In addition,a broker-dealer could not continue to display a quotation or IOI as a customer order after the order was executed or cancelled.

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