The comment period ends July 27, 2015 on FINRAs concept proposal to restructure the registered representative-level qualification examination program into a format whereby all potential representative-level registrants would take a general knowledge examination and an appropriate specialized knowledge examination to reflect their particular registered role. For purposes of the proposal, the general knowledge examination would be … Continue reading Comment Period Ends: Concept Proposal to Restructure Qualification Examination Program→
The SEC requested comments on a proposal to amend FINRA Rule Series 9100, 9200, 9300, 9550 and 9800 to (1) modify the evidentiary standard that must be met to impose a temporary cease and desist order; (2) adopt a new expedited proceeding for repeated failures to comply with temporary or permanent cease and desist orders; (3) ease administrative burdens in temporary cease and desist proceedings; (4) harmonize the provisions governing how documents are served in temporary cease and desist proceedings and expedited proceedings; (5) clarify the process for issuing permanent cease and desist orders; and (6) make conforming changes throughout FINRA's Code of Procedure.
The Municipal Securities Rulemaking Board (MSRB) and the Municipal Forum of New York will host an education and outreach seminar on July 28, 2015 from 3:00 p.m.-5:30 p.m. at the Marriott New York Downtown, Grand Ball Room, 85 West Street, New York, NY. A reception will follow. The event will highlight the municipal market’s past, present and … Continue reading MSRB and Municipal Forum of New York Education and Outreach Seminar→
Half-day Compliance Boot Camps focus on basic regulatory requirements and compliance responsibilities. Participants are required to complete approximately three hours of assigned pre-course readings and online coursework prior to attending the session. Pre-course work is assigned and distributed approximately one week before the session. This course is designed for compliance professionals who are new to … Continue reading FINRA Boot Camp: Suitability and Managing Conflicts of Interest→
The SEC requests comment on a proposal to expand FINRA's alternative trading system (ATS) transparency initiative to publish the remaining equity volume executed over-the-counter by FINRA members, including, among other trading activity, non-ATS electronic trading systems and internalized trades.
Ballots for FINRA's election to fill one small firm seat, one mid-size firm seat and one large firm seat on the FINRA Board of Governors must be submitted prior to the Annual Meeting scheduled for July 30, 2015.
As regulators continue to narrow in on protecting senior investors, broker-dealers, now more than ever, need to focus on how their compliance programs are set-up to cater to today’s ‘graying’ American population. As many firms are quickly beginning to realize, failing to implement such safeguards can lead to serious issues regarding suitability and disclosure.
This webinar will discuss the unique needs of senior investors, steps your firm should take when working with this growing demographic, and the serious implications of FINRA and the SEC’s recent influx of disciplinary actions and investor alerts. Please join the discussion July 30 at 1pm.
As regulators continue to narrow in on protecting senior investors, broker-dealers, now more than ever, need to focus on how their compliance programs are set-up to cater to today’s ‘graying’ American population. As many firms are quickly beginning to realize, failing to implement such safeguards can lead to serious issues regarding suitability and disclosure.
FINRA will conduct its annual meeting of firms on Thursday, July 30, 2015, at 2 p.m. Eastern Time at 1735 K Street, NW, in Washington, D.C. The purpose of the meeting is to elect individuals to fill one small firm seat, one mid-size firm seat and one large firm seat on the FINRA Board of … Continue reading Notice of Annual Meeting of FINRA Firms→
The SEC requested public comment on a proposal to amend FINRA Rule 2210 (Communications with the Public) to require a readily apparent reference and hyperlink to BrokerCheck® on: (1) the initial webpage that the member intends to be viewed by retail investors; and (2) any other webpage that includes a professional profile of one or more registered persons who conduct business with retail investors. These requirements would not apply to a member that does not provide products or services to retail investors, or to a directory or list of registered persons limited to names and contact information.
The SEC requested comments on a proposal to amend NASD Rule 1032(f) (Limited Representative-Equity Trader) to replace the Equity Trader registration category and qualification examination (Series 55) with a Securities Trader registration category and qualification examination (Series 57). In addition, the proposal amends NASD Rule 1022(a) (General Securities Principal) to establish a Securities Trader Principal registration category. The proposal also makes technical conforming changes to the Form U4 (Uniform Application for Securities Industry Registration or Transfer).
Half-day Compliance Boot Camps focus on basic regulatory requirements and compliance responsibilities. Participants are required to complete approximately three hours of assigned pre-course readings and online coursework prior to attending the session. Pre-course work is assigned and distributed approximately one week before the session. This course is designed for compliance professionals who are new to … Continue reading FINRA Boot Camp: Managing Conflicts of Interest and Branch Office Inspections→
Half-day Compliance Boot Camps focus on basic regulatory requirements and compliance responsibilities. Participants are required to complete approximately three hours of assigned pre-course readings and online coursework prior to attending the session. Pre-course work is assigned and distributed approximately one week before the session. This course is designed for compliance professionals who are new to … Continue reading FINRA Boot Camp: Supervision and Managing Conflicts of Interest→
FINRA Rule 2040 ("Rule") governs the payment of transaction-based compensation by member firms to unregistered persons. The new amendment to the Rule is effective August 24, 2015. The amended It expressly aligns the rule with Section 15(a) of the Securities Exchange Act of 1934 (SEA or Exchange Act) and its related guidance to determine whether … Continue reading Effective Date of FINRA Rule 2040 – Payment to Unregistered Persons→
FINRA Notice to Members 15-07 noted that the effective date of Rule 0190 is August 24, 2015. Rule 0190 is based largely on NASD IM-2420-1(a) (Transactions Between Members and Non-Members; Non-members of the Association) and provides that a member firm will be considered as a non-member of FINRA from the effective date of any order … Continue reading Effective Date of FINRA Rule 0190→
FINRA Notice to Member 15-07 noted that the amendments to FINRA Rule 8311 would be effective August 24, 2015. In general, the amendments to FINRA Rule 8311 eliminate duplicative provisions in NASD IM-2420-2 and clarify the scope of the rule on payments by member firms to persons subject to suspension, revocation, cancellation, bar (each a … Continue reading Effective Date of amended FINRA Rule 8311→
The comment period ends on August 24, 2015 for a FINRA proposal to reduce the delay period for the Historic TRACE Data Sets from 18 months to six months. For more information, see Regulatory Notice 15-24.
Half-day Compliance Boot Camps focus on basic regulatory requirements and compliance responsibilities. Participants are required to complete approximately three hours of assigned pre-course readings and online coursework prior to attending the session. Pre-course work is assigned and distributed approximately one week before the session. This course is designed for compliance professionals who are new to … Continue reading FINRA Boot Camp: Supervision and Branch Office Inspections→
FINRA Rule 3270 prohibits any registered person from being an employee, independent contractor, sole proprietor, officer, director or partner of another person, or being compensated, or having the reasonable expectation of compensation, from another person as a result of any business activity outside the scope of the relationship with the member firm unless he or … Continue reading Outside Business Activity Review (NASD Rule 3050)→
The SEC requests comment on a proposal to adopt FINRA Rule 3210 (Accounts At Other Broker-Dealers and Financial Institutions) into the Consolidated FINRA Rulebook and to delete NASD Rule 3050, Incorporated NYSE Rules 407 and 407A and Incorporated NYSE Rule Interpretations 407/01 and 407/02. The proposed rule addresses accounts opened or established by associated persons … Continue reading Comment Period Ends: FINRA Rule 3210 replacing NASD 3050→
