Guidance
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Disciplinary Actions
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Upcoming Deadlines and Effective Dates
• SEC Requests for Comment
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Education and Compliance Programs
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The recording of the Small Firm Conference Call: Regulatory Notice 24-02 is now available to FINRA member firms. During this call, FINRA CEO Robert Cook and Member Relations and Education Vice President Kayte Toczylowski were joined by FINRA senior staff to discuss the Notice, which highlights the new Residential Supervisory Location designation and the Remote Inspections Pilot Program. Register to listen.
| | Guidance FINRA published Regulatory Notice 24-04 to adopt amendments to conform its rules to the Securities and Exchange Commission’s (SEC) amendments to Rule 15c6-1 and adopt Rule 15c6-2 under the Securities Exchange Act of 1934 to shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date (T+2) to one business day after the trade date (T+1).
FINRA published Regulatory Notice 24-05, adopting new Rule 6151 (Disclosure of Order Routing Information for NMS Securities) to require members to submit to FINRA for centralized publication the order routing reports required under the Securities and Exchange Commission’s (SEC) Rule 606(a) (Rule 606(a) Reports).
FINRA published Special Notice 2/27/24 to promote involvement by member firms’ employees and other interested parties with diverse skills, backgrounds, perspectives, and experiences to become involved in FINRA Advisory and Ad Hoc Committees and provide innovative feedback and support FINRA’s mission.
| | Disciplinary Actions FINRA publishes disciplinary actions to remind registered representatives and firms of specific conduct that violates FINRA rules and may result in disciplinary action. FINRA recently published the February 2024 Disciplinary Actions.
| | Upcoming Deadlines and Effective Dates SEC Requests for Comment
On Jan. 17, the SEC issued an order instituting proceedings to determine whether to approve or disapprove FINRA’s proposed rule change to adopt FINRA Rule 6897(a) (Consolidated Audit Trail Funding Fees) to establish fees for Industry Members related to certain historical costs of the National Market System Plan Governing the Consolidated Audit Trail incurred prior to Jan. 1, 2022. These fees would be payable to Consolidated Audit Trail, LLC and referred to as Historical CAT Assessment 1. Comments are due Tues., March 5. Rebuttal comments are due Tues., March 19. See the Federal Register notice.
On Jan. 17, the SEC issued an order instituting proceedings to determine whether to approve or disapprove FINRA’s proposed rule change to adopt FINRA Rule 6897(b) (CAT Cost Recovery Fees) to Implement a historical Consolidated Audit Trail (‘CAT’) recovery assessment through which FINRA would recoup its contributions to recoverable historical CAT costs incurred prior to Jan. 1, 2022. Comments are due Tues., March 5. Rebuttal comments are due Tues., March 19. See the Federal Register notice.
| | Education and Compliance Programs Firm compliance personnel who are new to registration and licensing—or would like to become more familiar with navigating related systems—are invited to join FINRA virtually May 1-2 for the Virtual Registration Systems Foundation Training. Consult the Virtual Training Schedule & How to Register page for more information. Register for FINRA’s upcoming events: |
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