Every time that I start a FINRA arbitration, I find myself having the same internal debate; did we pick the right person to serve as the arbitration chair.
On August 15, the Securities and Exchange Commission published the Financial Industry Regulatory Authority’s proposed amendment to FINRA Rule 2232, which will require FINRA members to provide additional price disclosures to retail customers in relation to certain transactions in fixed income securities.
FINRA Issues Notice Regarding SEC’s Approval of New NMS Stock Recording and Reporting Requirements Rule
On August 8, the Financial Industry Regulatory Authority issued Regulatory Notice 16-28, which discusses the Securities and Exchange Commission’s approval of new FINRA Rule 4554 (Alternative Trading Systems – Recording and Reporting Requirements of Order and Execution Information for NMS Stocks).
FINRA recently sent a sweep letter (or targeted exam letter) to select broker dealers, inquiring about those firms’ sale of non-traded Business Development Companies (BDCs).
In a notice published on its website on August 4, 2016, FINRA announced that it is conducting an inquiry with respect to non-traded business development companies (BDCs).
Proposed FINRA Rule Change to Clarify the Operation of the Regulation NMS Plan to Address Extraordinary Market Volatility
The Financial Industry Regulatory Authority is filing a proposed rule change (Proposal) with the Securities and Exchange Commission to clarify the operation of the Regulation NMS Plan to Address Extraordinary Volatility (Plan) following a “Trading Pause” or “Regulatory Halt” (as such terms are defined in the Plan) in a security subject to the Plan (Security).
On July 19, the Financial Industry Regulatory Authority filed a proposed rule change with the Securities and Exchange Commission to amend its Trade Reporting and Compliance Engine (TRACE) reporting rules to require the reporting of transactions in all US Treasury Securities other than US savings bonds.
For the most part, my broker-dealer clients are introducing firms that clear through any number of generally recognized clearing firms.
In July 2016, FINRA’s Investor Education Foundation released the findings from its National Financial Capability Study.
SEC Approves Consolidated FINRA Rule 3210 (Accounts at Other Broker-Dealers and Financial Institutions)
The Securities and Exchange Commission has approved the Financial Industry Regulatory Authority’s proposed rule change to adopt a new, consolidated rule governing accounts opened or established by associated persons at firms other than the member firm at which they are employed or registered (FINRA Rule 3210).