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New Guidance on Residential Supervisory Locations
Visit FINRA’s newly published Residential Supervisory Locations key topics page for FAQs, checklists and additional guidance on the adoption of FINRA Rule 3110.19 (Residential Supervisory Location), which goes into effect on June 1.
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Threat Intelligence Product on Protecting Senior Investors
Read FINRA’s latest Threat Intelligence Product for an overview of FINRA’s observations on seniors’ vulnerability to investment scams, common tactics scammers use to target victims, and additional resources to help protect all investors from fraud.
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FINRA Board of Governors Meeting
The FINRA Board of Governors meets this week to review FINRA’s Annual Financial Report, appoint members to FINRA’s various advisory committees, and more. Read FINRA CEO Robert Cook’s email to firms for an overview.
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 | Guidance Remiders: - Learn More About Membership Application Program (MAP)
FINRA launched a new video series to help firms currently in the MAP process as well as those considering filing a continuing membership application or registering a new broker-dealer firm.
- New Rate for Fees Paid Under Section 31 of Exchange Act
The Section 31 fee rate applicable to specified securities transactions on the exchanges and in the over-the-counter markets will increase on May 22 from its current rate of $8.00 per million dollars in transactions to a new rate of $27.80 per million dollars in transactions. FINRA announced the new rate in Information Notice 05/01/24.
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 | Upcoming Deadlines and Effective Dates
SEC Requests for Comment
- The SEC issued an order on April 18 instituting proceedings to determine whether to approve or disapprove FINRA’s proposed rule change to amend FINRA Rule 3240 (Borrowing From or Lending to Customers) to strengthen the general prohibition against borrowing and lending arrangements, narrow some of the existing exceptions to that general prohibition, modernize the immediate family exception, and enhance the requirements for giving notice to members and obtaining members’ approval of such arrangements. Comments are due by May 15. Rebuttal comments are due by May 29. See the SEC Notice of Order.
- The SEC issued an order on April 22 instituting proceedings to determine whether to approve or disapprove FINRA’s proposed rule change to amend FINRA Rule 6730 (Transaction Reporting) to reduce the 15-minute TRACE reporting timeframe to one minute, with exceptions for member firms with de minimis reporting activity and for manual trades. Comments are due by May 17. Rebuttal comments are due by May 31. See the SEC Notice of Order.
- The SEC requests comment on FINRA’s proposed rule change to adopt the new FINRA Rule 6500 Series (Securities Lending and Transparency Engine (SLATE)) to require reporting of securities loans and provide for public dissemination of loan information. Comments are due by May 28. See the Federal Register notice.
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 | Education and Compliance Programs Register for upcoming events: |
