Guidance
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Disciplinary Actions
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Upcoming Deadlines and Effective Dates
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Education and Compliance Programs
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New Podcast: Amendments to FINRA Rule 4210 – Covered Agency Transactions
Listen to the latest episode of FINRA Unscripted for a discussion about the recent amendments to FINRA Rule 4210 that introduced specific margin requirements related to covered agency transactions, the firms that might be impacted and what they should think about to ensure compliance.
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ICYMI: Updated Standard Secured Demand Note (SDN) Templates
Reminder: FINRA has updated paragraph 3(b) of its SDN templates (FINRA Forms SDN-32D, SDN 32-E, and SDN-32T) to align with paragraph (c)(4) of Appendix D to the SEC’s Net Capital Rule. The updated forms are available on the Subordination Agreements page. Please make the necessary changes to your collateral statements, if applicable, by Aug. 31 to ensure compliance with the rule.
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ICYMI: New Research – “The Machines Are Coming: Do We Trust Them?”
Reminder: A study by the FINRA Investor Education Foundation suggests consumers trust financial professionals more than AI when it comes to financial information.
| | Guidance
New: - Read our recent Cybersecurity Advisory highlighting to firms the SEC’s recent amendments to Regulation S-P, which broaden the scope of information covered by Regulation S-P’s requirements and will require broker-dealers (including funding portals), investment companies, registered investment advisers and transfer agents to adopt an incident response program and notify individuals whose sensitive customer information was, or is reasonably likely to have been, accessed or used without authorization. Larger entities will have 18 months, and smaller entities will have 24 months, after June 3, 2024 (the date of publication in the Federal Register) to comply.
| | 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. The May 2024 Monthly Disciplinary Actions are available here.
| | Upcoming Deadlines and Effective Dates FINRA - Reminder: FINRA Rule 6151 – Centralization of SEC Rule 606(a) Reports (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. In addition, testing for this rule is underway. To participate in the testing, please fill out this form.
SEC | | Education and Compliance Programs Register for upcoming events: |
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