The New York Investment Advisory Act (the “Rule”) has been amended, and effective February 1, 2021, New York requires investment adviser representatives (“IARs”) who render investment advice or act as … Continue reading Agent Registration Required for New York Investment Adviser Representatives
The Code of Arbitration Procedure for Customer Disputes (Customer Code) and the Code of Arbitration Procedure for Industry Disputes (Industry Code, and together with the Customer Code, the Codes) have … Continue reading Simplified Arbitration Approved by SEC
FINRA is seeking comment on proposed amendments to FINRA Rule 4521 (Notifications, Questionnaires and Reports) that would require specified member firms to notify FINRA no more than 48 hours after … Continue reading FINRA Requests Comments on Proposed Amendments to FINRA Rule 4521
The Securities and Exchange Commission (SEC) approved FINRA Rule 2030 (Engaging in Distribution and Solicitation Activities with Government Entities) and 4580 (Books and Records Requirements for Government Distribution and Solicitation Activities) … Continue reading SEC Approves New FINRA Pay-To-Play Rules
The Securities and Exchange Commission approved the adoption of FINRA Rule 2242 (Debt Research Analysts and Debt Research Reports) to address conflicts of interest relating to the publication and distribution … Continue reading Implementation Date of FINRA Rule 2242 Extended to July 16, 2016
Since early last year, the Securities Industry and Financial Markets Association(“SIFMA”) and the Investment Company Institute (“ICI”) have publicly supported the shortening of the settlement cycle from trade date plus three … Continue reading The Pressure to Shorten the Settlement Cycle From T+3 to T+2 Has Increased
The Securities and Exchange Commission announced that starting on Feb. 16, 2016, the fee rates applicable to most securities transactions will be set at $21.80 per million dollars. Consequently, each … Continue reading SEC Announces its Fee Rate Advisory for Fiscal Year 2016
The Financial Industry Regulatory Authority (“FINRA”) has announced a proposed new set of rules that address the needs of FINRA member firms that are solely corporate financing firms that advise … Continue reading FINRA Proposes New Registration Category for Corporate Financing Brokers
The Financial Industry Regulatory Authority (FINRA) announced in Regulatory Notice 15-50 that the Securities and Exchange commission approved amendments to FINRA Rule 2210 (Communications with the Public) that become effective … Continue reading FINRA Rule 2210 Amended to Require BrokerCheck Website Hyperlink
The Securities and Exchange Commission has approved a change to FINRA Rule 8312 (FINRA BrokerCheck Disclosure) which will reduce the waiting period from 15 days to three business days for … Continue reading SEC Reduces Form U5 Wait Period to 3 Days on BrokerCheck
The Financial Industry Regulatory Authority, Inc. (“FINRA”) has filed with the Securities and Exchange Commission (“SEC”) a proposed rule change to adopt Funding Portal Rules 100, 110, 200, 300, 800, … Continue reading FINRA Proposes Amendments to the Funding Portal Rules
FINRA’s experience with its Securities Helpline for Seniors has highlighted issues relating to financial exploitation of this group of investors. Among these issues is a firm’s ability to quickly and … Continue reading Comment Period is Open on FINRA’s Proposed Rule Amendments to Address the Financial Exploitation of Seniors
FINRA recently published Regulatory Notice 15-32 to provide guidance regarding the FINRA filing requirements and review procedures that apply to firms that participate in Regulation A+ offerings. Specifically, FINRA’s Corporate Financing Rules … Continue reading FINRA Provides Guidance on Regulation A+ Offerings
The SEC approved the adoption of FINRA Rule 2272 (Sales and Offers of Sales of Securities on Military Installations) to govern sales and offers of sales of securities by firms … Continue reading SEC Approves FINRA Rule 2272 – Governing Sales of Securities on Military Installations
In April 2014, the Financial Industry Regulatory Authority (“FINRA“) rolled out the CRD Public Records Validation Initiative to conduct a review of public records available for the entire population of … Continue reading CRD Public Records Validation Initiative Evolving to Ongoing Validation
The Securities and Exchange Commission (SEC) recently approved amendments to the Financial Industry Regulatory authority (FINRA) rules that lower the evidentiary standard to impose a temporary cease and desist order … Continue reading FINRA Rules Amended to Expedite Cease and Desist Orders
FINRA believes that effective liquidity management is a critical control function at broker-dealers and across firms in the financial sector. Failure to manage liquidity has contributed to both individual firm … Continue reading FINRA Issues Liquidity Risk Management Guidance
The Municipal Securities Rulemaking Board (MSRB) announced in Regulatory Notice 2015-13 that it will be raising the fees assessed to its registrants (brokers, dealers, and municipal securities dealers (collectively “dealers”) … Continue reading MSRB to Raise Annual and Initial Fees
Financial Industry Regulatory Authority, Inc. (“FINRA”) has filed a proposed rule change with the Securities and Exchange Commission (“SEC”) to adopt NASD Rule 3040 (Private Securities Transactions of an Associated … Continue reading FINRA Proposes to Adopt FINRA Rule 3280 – Private Securities Transactions
The Securities and Exchange Commission (SEC) approved the adoption of FINRA Rule 2241 ( Research Analysts and Research Reports), a consolidated rule to address conflicts of interest relating to the … Continue reading SEC Approves Rule Addressing Conflicts of Interest in Research Reports
FINRA Renewals FINRA has posted the online Preliminary Renewal Statements on Web CRD and Web IARD, which commenced the 2016 renewal season for broker-dealers and investment advisers. The FINRA Renewal … Continue reading Registration Update: 2016 Broker-Dealer & Investment Adviser Renewal
The Code of Arbitration Procedure for Customer Disputes (Customer Code) and the Code of Arbitration Procedure for Industry Disputes (Industry Code) (together, codes) govern the payments that FINRA makes to … Continue reading SEC Approves Amendments to the Codes of Arbitration Procedure to Increase the Fees Assessed for Late Cancellation or Postponement of a Hearing
FINRA Rule 3110(e) (Responsibility of Member to Investigate Applicants for Registration) is effective as of July 1, 2015. The new rule requires, prior to registration, that broker-dealers conduct an investigation … Continue reading Background Investigations Now Required by FINRA
The LeGaye Law Firm wants to advise you that FINRA launched the 2015 Risk Control Assessment (RCA) survey on June 22. Each firm’s executive representative received an email linking to … Continue reading FINRA Launches 2015 Risk Control Assessment
The LeGaye Law Firm wants to advise you that the Colorado Department of Regulatory Agencies has recently passed a new rules Rules 51-4.3(K) and 51-4.4(IA)(I), which requires all broker-dealer and … Continue reading Colorado – New Email Rules Effective June 1, 2015