Guidance
• Treasury Announcement of Call for Large Position Reports
• Threat Intelligence Product
• FAQs on Artificial Intelligence
| 
Disciplinary Actions
| 
Upcoming Deadlines and Effective Dates
• FINRA Rule 6151 Testing
• SEC Requests for Comment
| 
Education and Compliance Programs
|
|
 |
New Remote Inspections Pilot Program Guidance
FINRA this week published a new key topics page to provide firms additional guidance on the adoption of FINRA Rule 3110.18 (Remote Inspections Pilot Program). The new rule, which goes into effect on July 1, establishes a voluntary, three-year remote inspections pilot program to allow eligible member firms to fulfill their Rule 3110(c)(1) inspection obligation of qualified branch offices and locations remotely, without an on-site visit, subject to specified terms.
|
|
New FINRA Unscripted Episode
This episode highlights FINRA's Insider Trading Detection Program, which uses sophisticated technology and analytics to monitor 100 percent of trading in stocks, options and bonds for potentially suspicious activity around material news events. Listen to the podcast.
|
|
Personnel News
FINRA has announced the promotion of Michael Solomon to Executive Vice President of Examinations and Membership Application Program.
|
|
New FINRA.org Homepage
FINRA is conducting a beta test of a redesigned FINRA.org homepage. If you would like to view it and provide feedback, please participate in the live survey.
| | Guidance New: - Treasury Announcement of Call for Large Position Reports
In its May 1, 2024, Quarterly Refunding Statement, Treasury announced plans to conduct a call for large position reports sometime over the next three months. Treasury is offering a free virtual workshop on June 7, 1:00-2:00 p.m. (ET), about its Large Position Reporting rules, which apply to all U.S. and foreign entities that may control a large position in a specified Treasury security. To register for the workshop, complete the online form. The workshop is closed to the press.
- 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.
- FAQs on Members’ Use of Artificial Intelligence (AI) in Communications with the Public
Read FINRA’s newly published frequently asked questions (FAQs) related to member firms’ use of artificial intelligence (AI) in communications with the public on the Frequently Asked Questions About Advertising Regulation page.
Reminder: - 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. The rule will permit firms to designate an associated person’s private residence where certain supervisory activities are conducted to be considered a “non-branch” location of the firm.
| | 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 has recently published the May 2024 Monthly Disciplinary Actions.
| | Upcoming Deadlines and Effective Dates FINRA - As a reminder, FINRA Rule 6151 (Disclosure of Order Routing Information for NMS Securities) goes into effect on June 30. The rule requires 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), and FINRA will centralize access to all Rule 606(a) Reports on its website. To learn more, visit FINRA Rule 6151 – Centralization of SEC Rule 606(a) Reports. In addition, testing for this rule change will begin on June 5. If you are interested in participating in the testing, please fill out this form for access.
SEC Requests for Comment - 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.
| | Education and Compliance Programs Register for upcoming events: |
|
