SEC Rule 605 & Rule 606

Securities and Exchange Commission rules mandate the public disclosure of order routing practices (the "Disclosure Rules"). Rule 605 (formerly SEC Rule 11Ac1-5) requires “market centers” that trade National Market System securities to make available standardized, monthly reports containing statistical information about “covered order” executions. Rule 606 (formerly SEC Rule 11Ac1-6) requires that broker-dealers that route customer orders in equity and option securities make publicly available quarterly reports that identify the venues to which customer orders are routed for execution.

The retail brokerage business of Empower Financial Services, Inc. (previously known as “GWFS Equities, Inc” or “GWFS”) clears trading through two different clearing firms, of which order routing information is made publicly available here:

Pershing LLC on behalf of Empower Financial Services, Inc. (MPID: GWFS)    

SEC Rule 606 Disclosure of Order Routing Practices
At Broker-Dealer’s Full Name, type: GWFS

National Financial Services LLC on behalf of Empower Financial Services, Inc. (MPID: MPWR)

SEC606 Report Q2 2022 PDF

SEC606 Report Q2 2022 XML

SEC606 Report Q3 2022 PDF

SEC606 Report Q3 2022 XML

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Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser, Empower Advisory Group, LLC. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.  

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Insurance products are issues by or offered through Empower Annuity Insurance Company of America, Corporate Headquarters: Greenwood Village, CO; or in New York, by Empower Life & Annuity Insurance Company of New York, Home Office: New York, NY. 

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