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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National Adjudicatory Council (NAC) Election
The nomination process is now open to fill one small firm seat on the NAC—a 15-member panel appointed by the FINRA Board of Governors to review all FINRA hearing panel disciplinary decisions and preside over disciplinary matters that have been appealed to the NAC or called for its review. The deadline to submit petitions to become a candidate is Oct. 3. Information, including eligibility requirements and the candidate profile form, is detailed in the Election Notice.
| | Notices and Guidance
New - No new Notices or guidance.
Reminders - Crypto Asset Activities Update: In support of FINRA’s work to address the regulatory challenges presented by member firms’ crypto asset activities, we published an update describing themes we have identified on where and how firms may be engaging in the activities and how we can adapt to continue to protect investors and safeguard markets effectively, while supporting our members. The update is based on responses to recent Regulatory Notices and the 2023 crypto asset questionnaire, as well as information we have collected through our regulatory operations.
- Election Notice: FINRA announced the Annual Meeting of FINRA Firms, when firms will elect one small, one mid-size and one large firm governor to the FINRA Board of Governors. The Notice includes profiles of all the candidates and voting instructions.
- Regulatory Notice: We have updated our set of interpretations under FINRA Rule 4210 (Margin Requirements), effective Aug. 9. To further help firms understand the updates, we also published a guide that includes a text comparison with the previous interpretations and other information.
| | 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 August 2024 Monthly Disciplinary Actions are available here.
| | Upcoming Deadlines and Effective Dates New - No new deadlines or effective dates.
Reminders - SEC Request for Comment: On Aug. 5, the SEC issued an order instituting proceedings to determine whether to approve or disapprove FINRA’s proposed rule change to adopt the new FINRA Rule 6500 Series (Securities Lending and Transparency Engine (SLATE)) to (1) require reporting of securities loans; and (2) provide for the public dissemination of loan information. Comments are due by Aug. 30. Rebuttal comments are due by Sept. 13. See the SEC Notice of Order.
- WebEFT Retirement: In response to feedback from firms, FINRA has extended WebEFT access until April 30, 2025, for firms that have started their transition from WebEFT to APIs by Nov. 15, 2024. The extension gives those firms additional opportunity to complete the required development to fully onboard to the API platform. WebEFT subscribers not migrating to APIs will no longer have access to WebEFT after Nov. 15, 2024, as previously announced.
- OFR Final Rule: The U.S. Treasury Department’s Office of Financial Research (OFR) has adopted a final rule establishing a data collection for certain non-centrally cleared bilateral transactions in the U.S. repurchase agreement market. This collection requires daily reporting to that office by certain brokers, dealers and other financial companies with large exposures to non-centrally cleared bilateral repo. The OFR encourages Category 1 Covered Reporters, focused on brokers and dealers, to begin testing as early as possible and no later than 90 days before the Dec. 2 compliance date.
| | Education and Compliance Programs Register for upcoming events: |
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