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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Amendment to BrokerCheck Disclosure Rule Now in Effect
FINRA recently filed for immediate effectiveness a rule change that amends FINRA Rule 8312 (FINRA BrokerCheck Disclosure) to exclude from display on BrokerCheck street addresses of registered branch offices that are reported to FINRA as private residences. To exclude from display on BrokerCheck the street address of a registered branch office that is a private residence, a firm must select the “Private Residence” check box on Form BR. Read the rule filing here.
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New Regulatory Task Catalog Available in FINRA Gateway
FINRA recently launched the Regulatory Task Catalog, a new feature in FINRA Gateway that provides firms efficient access to forms, filings and other regulatory tasks, as well as useful background information and links to guidance and other resources. Find it in FINRA Gateway on the Dashboard and in the left-side navigation.
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2023 Annual Financial Report Released
Read about how we managed our finances last year and the key drivers of our 2023 financial performance.
| | Guidance
New - Regulatory Notice: FINRA reminds firms of regulatory obligations when using generative artificial intelligence (Gen AI) and large language models. FINRA’s rules, which are intended to be technology neutral, and the securities laws more generally, continue to apply when firms use Gen AI or similar technologies in the course of their businesses, just as they apply when firms use any other technology or tool.
- Information Notice: FINRA reminds firms of the role of the Cross-Market Regulation Working Group (CMRWG), which was established under the U.S. Subgroup of the Intermarket Surveillance Group (ISG), to focus on ways to reduce unnecessary regulatory duplication.
- Cybersecurity Alert: FINRA notifies firms of a MOVEit software vulnerability that introduces new risk and details steps for firms to take to mitigate it.
Reminders - Residential Supervisory Locations Update: FINRA continues to work with jurisdictions and SROs to add functionality to CRD for member firms to select/deselect any individual regulator for an office/location without impacting the location’s registration status with other jurisdictions or SROs. Until we provide further instruction, firms should not close or withdraw any existing Form BR for those locations that are or will be designated as an RSL. Additionally, we are working on a rule filing to amend the Form U4 to add an “RSL Checkbox” that will allow firms to comply with the reporting requirement under FINRA Rule 3110.19(d). Firms should maintain an internal list of all RSL locations until then.
- Cyber Alert: Firms should beware of an advanced social engineering attack known as quishing, or QR phishing, targeting Microsoft 365 accounts.
| | 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 June 2024 Monthly Disciplinary Actions are available here.
| | Upcoming Deadlines and Effective Dates - FINRA Rule 6151 (Disclosure of Order Routing Information for NMS Securities) is now in effect. The rule requires members to submit to FINRA the order routing reports required under the Securities and Exchange Commission’s (SEC) Rule 606(a) for centralized publication. FINRA started accepting submissions on July 1, 2024. For FINRA Rule 6151 submissions, please use FINRA Gateway for manual uploads or refer to the guidance on machine-to-machine uploads provided in the fileX user guide. Visit FINRA’s website for additional guidance on submissions and FAQs, or email [email protected]. Once published, the reports will be available on FINRA.org.
| | Education and Compliance Programs Register for upcoming events: |
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