This video breaks down FINRA Rule 3280 and explains why even personal LLC or LP investments may count as Private Securities Transactions requiring disclosure. Learn what reps and firms must … Continue reading FINRA Rule 3280 – Avoiding Compliance Pitfalls
A quick breakdown of why financial firms struggle to classify representatives as independent contractors under labor law while still meeting SEC and FINRA supervisory requirements.
This video walks you step-by-step through the FINRA broker-dealer registration process and shows how The LeGaye Law Firm streamlines every stage—from business planning to membership approval. Learn how to start … Continue reading How The LeGaye Law Firm Simplifies FINRA BD Registration
The Annual Conference provides the opportunity for practitioners, peers and regulators to exchange ideas on today’s most timely compliance and regulatory topics. The conference offers a broad range of topics … Continue reading 2026 FINRA Annual Conference
Co-hosted by the SEC, MSRB and FINRA, this year’s program provides practical and tailored discussions addressing top concerns and interests among municipal securities dealers and municipal advisors, including conflicts of … Continue reading FINRA Compliance Outreach Program for Municipal Advisors and Municipal Dealers – Virtual Event
A one-day, hybrid event that will focus on today’s cybersecurity challenges, understand vulnerabilities and latest threats and create resilience against cyber-attacks.
The Small Firm Conference focuses on small firms’ practices and tips for complying with FINRA rules.
The Annual Conference provides the opportunity for practitioners, peers and regulators to exchange ideas on today’s most timely compliance and regulatory topics. The conference offers a broad range of topics … Continue reading 2025 FINRA Annual Conference
Overview The Financial Industry Regulatory Authority (“FINRA”) has requested comments on a proposed amendment (the “Amendment”) to Rule 3220 (“Rule 3220”) that it recently filed with the Securities and Exchange … Continue reading FINRA Seeks Feedback on Rule 3220 Overhaul: New Limits, Codified Guidance, and Exemptions
The Financial Industry Regulatory Authority (FINRA) has proposed a new rule, FINRA Rule 3290 – Outside Business Requirements (Proposed Rule), to simplify and reduce unnecessary regulatory burdens related to the … Continue reading FINRA Proposes Rule 3290 to Streamline Oversight of OBAs and PSTs
Overview The Financial Industry Regulatory Authority (FINRA), while not a federal agency, operates under the supervision of the United States Securities and Exchange Commission (SEC). As the SEC aligns more … Continue reading Deregulation, Oversight and FINRA: A New Regulatory Era?
The Small Firm Conference focuses on small firms’ practices and tips for complying with FINRA rules
The Annual Conference provides the opportunity for practitioners, peers and regulators to exchange ideas on today’s most timely compliance and regulatory topics. The conference offers a broad range of topics … Continue reading 2024 FINRA Annual Conference
The Financial Industry Regulatory Authority (“FINRA”) has announced a proposed rule to limit any associated person of a member firm who is registered with FINRA (each a “registered person”) from … Continue reading FINRA Proposes Rule Restricting Registered Reps Being Named a Beneficiary, Executor or Trustee
The Financial Industry Regulatory Authority’s (“FINRA”) 2018 Examination Findings Report regarding broker-dealer (“firms” or “members”) examinations made it clear that it had targeted due diligence for private placements as a … Continue reading FINRA’s 2018 Examination Findings Report Targets Private Placement
The Financial Industry Regulatory Authority’s (‘FINRA”) restructured qualification examination program will become effective on October 1, 2018, and it will then require that all new representative-level applicants be required to take a … Continue reading FINRA Restructures Qualification Examination Program
Financial Industry Regulatory Authority (FINRA) Regulatory Notice 17-30 noted that the Securities and Exchange Commission (SEC) had approved new registration and qualification rules for FINRA, including that members are required … Continue reading FINRA Requires Principal Financial Officer and Principal Operations Officer
The Securities and NYSE Commission (SEC) has published notice to solicit comments on a proposed rule change from the New York Stock NYSE LLC (NYSE) to amend Rule 2 to … Continue reading NYSE Proposes to Drop FINRA Membership Requirement
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 making enhancements to its disclosure review process that will permit firms to rely on FINRA’s background investigation and verification process for purposes of compliance with the requirement to … Continue reading FINRA Provides Background Investigation of Public Financial Records
The 2018 Regulatory and Examination Priorities Letter is an affirmation that the coming year will bring both continuity and change in FINRA’s regulatory programs. The continuity comes, first in the … Continue reading FINRA 2018 Regulatory and Examination Priorities Letter
FINRA seeks comments on a proposed new rule to consolidate FINRA Rule 3270 (Outside Business Activities of Registered Persons) and FINRA Rule 3280 (Private Securities Transactions of an Associated Person). … Continue reading FINRA Proposes New Rule on Outside Business Activities and Private Securities Transactions
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 FINRA Codes of Arbitration and Mediation Procedure (“Codes”) permits non-attorney representation of clients in securities arbitration and mediation subject to certain exceptions. FINRA is currently conducting a review of … Continue reading Is There a Place for Non-Attorney Representation Firms in Arbitration?
The Financial Industry Regulatory Authority (FINRA) announced it has fined J.P. Morgan Securities, LLC $1.25 million for failing to conduct timely or adequate background checks on approximately 8,600, or 95 … Continue reading Firm Fined $1.25 Million for Failure to Run Adequate Background Checks
At the September FINRA Board of Governors meeting, the Board authorized publishing for comment two proposed rulemaking items. One would permit firms to use technology to conduct remote inspections of … Continue reading FINRA Board Approves Rule Proposals on Low Risk Branch Exams and Expanded BrokerCheck Discosures
The Financial Industry Regulatory Authority (FINRA) has issued a Compliance Vendor Directory for its members as a new resource for firms searching for vendors that offer compliance-related products and services. … Continue reading FINRA Offers Compliance Vendor Directory
On January 4, 2017, the Financial Regulatory Authority (FINRA) started the new year with a bang as it published the Regulatory and Examination Priorities Letter (Exam Priorities Letter) for 2017. … Continue reading FINRA Releases its 2017 Exam Priorities Letter
The Financial Industry Regulatory Authority (FINRA) has proposed new rules to address the financial exploitation of seniors and other vulnerable adults to the Securities and Exchange Commission (SEC). As set … Continue reading FINRA Proposes New Rules to Protect Seniors
The Financial Industry Regulatory Authority (FINRA) announced at its recent 2016 Annual FINRA Conference in Washington DC that it has created a Cybersecurity Checklist to assist small member firms in establishing … Continue reading FINRA Issues Small Firm Cybersecurity Checklist
FINRA executives have been speaking regularly about conflicts of interest, firm culture and professional ethics. Firm cultural values have a profound influence on how a broker-dealer conducts its business, including … Continue reading Creating & Articulating Firm Culture For FINRA
The Financial Industry Regulatory Authority (“FINRA”) has proposed the creation of a separate rule set that would apply to firms that meet the definition of a ‘‘capital acquisition broker’’ (“CAB”) and … Continue reading Comment Period Ends May 6, 2016 on the Proposed Capital Acquisition Broker Rules
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
FINRA maintains contact information records of all Executive Representatives, Chief Compliance Officers and other individuals at firms, including contacts that are required under FINRA rules and By-Laws, and others that … Continue reading FINRA Designates Chief Information Security Officer as New Role
FINRA has released an updated Written Supervisory Procedures Checklist to reflect new FINRA rules. The Written Supervisory Procedures Checklist (“WSP Checklist”) is an outline of selected key topics representative of … Continue reading FINRA Releases New Written Supervisory Procedures Checklist
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, Inc. (“FINRA”) has filed a proposed rule change to adopt FINRA Rules 2030 (Engaging in Distribution and Solicitation Activities with Government Entities) and 4580 (Books … Continue reading FINRA Proposes “Pay-To-Play” Rules
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 Financial Industry Regulatory Authority (FINRA) has fined Scottrade, Inc. $2.6 million for failing to retain a large number of securities-related electronic records in the required format, and for failing … Continue reading Firm Fined $2.6 Million for Failures in Electronic Records and Email Retention
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
Richard Ketchum, Chairman and CEO of the Financial Industry Regulatory Authority (FINRA), shared his thoughts on the top 3 regulatory concerns for 2016 recently at the SIFMA Annual Conference. His … Continue reading FINRA’s Top 3 Regulatory Concerns for 2016 Examination Focus
The Financial Industry Regulatory Authority (FINRA) has announced the U.S. Securities and Exchange Commission’s (SEC) recent approval of FINRA’s proposal to expand its transparency initiative for over-the-counter (OTC) equity securities. … Continue reading FINRA Rule to Increase Transparency in OTC Equities Market
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 Financial Industry Regulatory Authority (FINRA) ordered 12 firms to pay restitution totaling more than $4 million and fines totaling more than $2.6 million for failing to apply available sales … Continue reading FINRA Targets Firms for Failing to Apply Sales Charge Discounts
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 Financial Industry Regulatory Authority (FINRA) announced that its Board of Governors approved a rulemaking item to help firms better protect seniors and other vulnerable adults from financial exploitation. The … Continue reading FINRA Board Approves Rulemaking Item to Protect Seniors
The Financial Industry Regulatory Authority (FINRA) announced that as a result of a 2014 onsite exam, it found securities violations including various misleading sales pitches, customer account churning and other … Continue reading FINRA Cracksdown on Broker Migration
The Office of the Ombudsman for the Financial Industry Regulatory Authority (FINRA) recently issued its 2014 Report regarding its activities. The primary mission of the Ombudsman’s Office is to provide assistance to investors, … Continue reading FINRA Ombudsman Office Releases 2014 Report
The Financial Industry Regulatory Authority (FINRA) a has censured and fined Charles Schwab & Co., Inc. $2 million for net capital deficiencies and for related supervisory failures. The net capital … Continue reading Net Capital Deficiency Costs Charles Schwab Millions
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
FINRA recently issued a Targeted Exam Letter that is focused on conflicts of interest with respect to compensation practices for retail brokerage firms. As noted in FINRA’s Annual Priorities Letter, conflicts of … Continue reading FINRA Issues Targeted Exam Letter: Compensation Conflicts of Interest Review
The Securities and Exchange Commission (“SEC”), has approved the adoption of new FINRA Rule 2242 (Debt Research Analysts and Debt Research Reports) to address conflicts of interest relating to the publication and … Continue reading SEC Approves New FINRA Debt Research Analysts & Report Rules
FINRA has extended the deadline to complete the 2015 Risk Control Assessment Survey(RCA) to July 31, 2015. The RCA is a survey that FINRA uses to better understand the business activities in … Continue reading FINRA Extends Deadline for 2015 Risk Control Assessment
Oregon has joined California, Colorado, Connecticut, Delaware, Georgia, Hawaii, Illinois, Maryland, Massachusetts, Minnesota, Nebraska, New Jersey, New Mexico, Rhode Island, Vermont, Virginia and Washington, D.C. in the “Ban the Box” … Continue reading The Impact of “Ban the Box” Legislation on FINRA Broker-Dealers
In April 2014, FINRA announced it would conduct a review of public records available for the entire population of approximately 630,000 active registered representatives (RRs) for financial disclosures that may … Continue reading CRD Public Records Validation Initiative
FINRA is requesting comments in Regulatory Notice 15-22 on a revised proposal to adopt the NASD and Incorporated NYSE rules regarding discretionary accounts and transactions as FINRA Rule 3260 (Discretionary … Continue reading FINRA Requests Comments on Revised Proposal Regarding Discretionary Accounts
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
FINRA’s announced a new ad campaign that is meant to underscore the ease and importance of checking BrokerCheck before investing. In tangent with the print ad released, FINRA plans to … Continue reading FINRA Launches National Ad Campaign
FINRA has requested comments in Regulatory Notice 15-20 on a concept proposal to restructure the current representative-level qualification examination program into a format whereby all potential representative-level registrants would take a … Continue reading FINRA Requests Comments Proposal to Restructure the Representative-Level Qualification Examination Program
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; … Continue reading FINRA Rule 0190 Effective August 24, 2105
FINRA Notice to Member 15-07 noted that the amendments to FINRA Rule 8311 will be effective August 24, 2015. In general, while the amendments to FINRA Rule 8311 eliminate duplicative … Continue reading Amendment to FINRA Rule 8311 Approved
Daniel LeGaye, Managing Partner of the LeGaye Law Firm PC, was quoted in a March 17, 2015 article on the broadening impact on the on-boarding precess of financial firms that … Continue reading LeGaye Law Firm Quoted: Article on Client On-Boarding
It appears that the Financial Industry Regulatory Authority (“FINRA“) intends to back away from their reliance on FINRA Rule 8210 (the “Rule”) information requests for routine matters. At the Ask FINRA … Continue reading FINRA Backing Away From Reliance on Rule 8210 for Routine Information Requests
FINRA Comment Letter – Regulatory Notice 14-09; Limited Corporate Financing Broker (LCFB) The Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 14-08 (Regulatory Notice) seeking comments on a proposed rule set … Continue reading FINRA Comment Letter – Regulatory Notice 14-09; Limited Corporate Financing Broker (LCFB)
Overview In late February, the Financial Industry Regulatory Authority (“FINRA”) released Regulatory Release 14-09, and requested public comment on the proposed rules (the “LCFB Rule Set”) for a new category … Continue reading FINRA Announces Proposed Rules for Limited Corporate Financing Broker Category
Reporting Obligations For FINRA Member Firms Increase Due to FINRA Rule 4524 FINRA Rule 4524 Despite concerns of membership, the Financial Industry Regulatory Authority (FINRA) has laid down yet another mine field … Continue reading FINRA Rule 4524 Increases Reporting Obligations For Member Firms
FINRA Comment Letter – Rule 2040 – Payments to Non-Registered Persons On December 2,2009, the Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 09-69 (Regulatory Notice) seeking comments on its proposal … Continue reading FINRA Comment Letter – Rule 2040 – Payments to Non-Registered Persons