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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Free DC Event on Disrupting Financial Fraud
Members are invited to register to attend a free, full-day conference on Sept. 12 in Washington, DC, on disrupting the cycle of financial fraud. The FINRA Investor Education Foundation event will bring together regulators, academics, law enforcement agencies, advocacy groups and industry professionals for discussions on transnational criminal schemes, romance scams, cryptocurrency and more. Speakers include FINRA President and CEO Robert Cook, FBI Deputy Assistant Director of the Criminal Investigative Division James Barnacle, and FINRA Executive Vice President of Member Supervision Greg Ruppert. Space is limited. Click here for the full agenda and to register.
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Streamlined Weekly Update Email Coming Sept. 11
To help members focus on the information that is most important to them, FINRA soon will deliver a modified, streamlined version of the Weekly Update. Beginning in two weeks, the newsletter will combine guidance, deadlines and effective dates into a single section; include links to key resources; and more. Please note the email will deliver from “FINRA Weekly Update” instead of the current “FINRA Corporate Notification,” and the subject line will be “Read the latest from FINRA.”
| | Notices and Guidance
New - No new Notices or guidance.
Reminders - Crypto Asset Activities Update: As part of FINRA’s efforts to address the regulatory challenges presented by crypto asset activities, we published an update outlining trends in these activities among member firms. This update—based on a review of information provided by member firms in response to Regulatory Notices, the 2023 crypto asset questionnaire and ongoing regulatory operations—highlights how firms are engaging with the crypto asset industry and includes additional resources for firms.
| | 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 - SEC Request for Comment: The SEC issued an order on Aug. 21 instituting proceedings to determine whether to approve or disapprove FINRA’s proposed rule change to amend FINRA Rule 12800 of the FINRA Code of Arbitration Procedure for Customer Disputes. The proposed rule change, as subsequently modified by Partial Amendment No. 1, would address the applicability of the Document Production Lists to simplified customer arbitrations administered under FINRA Rule 12800. Comments are due by Sept. 17 and rebuttal comments are due by Oct 1.
Reminders - SEC Request for Comment: The SEC issued an order on Aug. 5 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 and rebuttal comments are due by Sept. 13. See the SEC Notice of Order.
- FINRA Board of Governors Election: The Annual Meeting of FINRA Firms takes place on Sept. 11, when firms will elect one small, one mid-size and one large firm governor to the FINRA Board. Read the Election Notice for profiles of all the candidates and voting instructions.
- CRCP Small Firm Scholarship: FINRA is offering five scholarships to industry professionals from small firms to attend the FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP) program. The scholarship covers full tuition for the entire CRCP program, including room and board. FINRA is accepting applications through Sept. 13.
- National Adjudicatory Council (NAC) Election: The deadline to submit petitions to become a candidate for the outstanding small firm seat on the NAC is Oct. 3. Information, including eligibility requirements and the candidate profile form, is detailed in the Election Notice.
- 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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