In OHO Order 16-26, a Hearing Officer confirmed what those uninitiated to FINRA’s disciplinary process likely would not even suspect: an agreement to settle a FINRA regulatory matter on terms proposed by FINRA’s Department of Enforcement is not necessarily an enforceable agreement.
FINRA recently announced that it will be conducting an inquiry into unit investment trust (“UIT”) rollovers.
On August 25, the Securities and Exchange Commission (SEC) issued notices (Notices) to the Financial Industry Regulatory Authority and the Municipal Securities Rulemaking Board (MSRB and together with FINRA, SROs) stating that it intends to approve pay-to-play rules proposed by both.
It is a simple fact that a broker-dealer has no obligation to supervise a disclosed outside business activity.
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).