On June 15, the Securities and Exchange Commission approved on an accelerated basis proposed amendments to FINRA Rule 4210 to establish margin requirements for TBA transactions, Specified Pool Transactions and certain forward transactions involving collateralized mortgage obligations (collectively, Covered Agency Transactions).
If you’re reading this, then you undoubtedly already know that FINRA and SEC are, simply, AML crazy.
Buried among the usual hodgepodge of stuff in a recent weekly FINRA blast email was a notice that the SEC was accepting comments on FINRA’s request to change the composition of the NAC, the National Adjudicatory Council, so that it mirrors the FINRA Board of Governors, and instead of having an equal number of industry and non-industry members, the latter will constitute a majority.
As with most aspects of the workplace, employee benefits are going digital. From online enrollments and administration for all types of benefits, to electronic educational tools, employers are increasingly seeking ways to use new technologies to enhance their benefits programs, increase efficiencies and employee engagement.
So, you’re a registered rep, working for a broker-dealer. Necessarily, you are registered with and subject to the oversight of FINRA, not a particularly happy proposition.
SEC Approves Rule Requiring Delivery of an Educational Communication to Customers of a Transferring Representative
The Financial Industry Regulatory Authority recently released Regulatory Notice 16-18, which describes the newly adopted FINRA Rule 2273 (Rule).
On May 23, 2016, at FINRA’s annual conference in Washington, D.C., Richard Ketchum, FINRA’s chairman and CEO, delivered a speech that shed a little light on FINRA’s recent sweep letter relating to firm culture (see our recent blog post for more information regarding the sweep letter).
On May 24, 2016, FINRA proposed amendments to its new debt research rule (Rule 2422).
FINRA Announces Rule 2273, Requiring Broker’s New Firm to Send “Educational Communication” to Broker’s Customers Before Transfer of the Customer’s Assets to the New Firm
FINRA has issued a regulatory notice (RN 16-18) regarding new Rule 2273, which requires member firms, when hiring a new broker from the competition, to send an “educational communication” to that broker’s customers if and when those customers move or seek to move their assets to the hiring firm.