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Regulatory Notice 26-11

FINRA is publishing updated interpretations of its margin rule (FINRA Rule 4210) to provide guidance to members in implementing the new intraday margin standards. Correspondingly, FINRA is deleting all interpretations relating to the former day trading margin requirements, which the new intraday margin standards have replaced in their entirety. Also, FINRA has made available educational resources, which members can share with customers, that provide information about the new intraday margin standards and margin accounts.

2022073261701 Moody Capital Solutions, Inc. CRD 15989 AWC vrp.pdf

From January 2020 to May 2023, Moody Capital failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA rules governing outside business activities (OBAs) and outside securities accounts, in violation of FINRA Rules 3110 and 2010. Additionally, from January 2020 to December 2022, the firm did not evaluate 23 OBAs disclosed by registered representatives, in violation of FINRA Rules 3270.01 and 2010.

2023077036901 IFP Securities, LLC CRD 297287 AWC ks.pdf

From November 2022 through November 2025, IFP failed to reasonably supervise recommendations of Class A mutual funds and Unit Investment Trusts. The firm relied on an automated surveillance system to identify transactions for review. However, throughout the period, the firm’s automated surveillance system failed to generate alerts and the firm had no other system in place. Therefore, IFP violated Rule 15l-1 of the Securities Exchange Act of 1934 (Reg BI) and FINRA Rules 3110 and 2010 and is censured and fined $100,000.
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