FINRA Testimony: CEO Rick Ketchum
Read Chairman and CEO Rick Ketchum's testimony before the Subcommittee on Capital Markets and Government Sponsored Enterprises Committee on Financial Services.
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Regulatory Financials
Effective Date: Electronic Submission of Subordinated Loan Requests
FINRA 9509 Key West Avenue, Rockville, MD, United StatesFINRA is launching, effective November 30, 2015, a new electronic platform on Firm Gateway for firms to submit all new requests for approval of proposed subordinated loan agreements and secured demand note agreements (referred to as subordinations), including renewals of existing agreements. This Notice discusses the electronic submission process, which will replace the current submission of subordination requests in hard copy form to FINRA.
As of November 30, 2015, all new requests must be submitted in electronic form through Firm Gateway, and FINRA will no longer accept new requests filed in hard copy form.
Customer Margin Balance Due
FINRA Rule 4521 requires member firms that carry customer margin accounts to submit debit and credit balances and all securities margin accounts.
Annual Audit Filing Due Date (Period Ending 12/31/2018)
SEC Rule 17a-5(d) requires that FINRA member firms to file an Annual Audited Report electronically with FINRA through the firm Gateway and with the SEC (main office and regional office) via mail or overnight carrier not more than 60-calendar days after the date selected for their fiscal year end. The Annual Audit must also be … Continue reading Annual Audit Filing Due Date (Period Ending 12/31/2018)