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Regulatory Notice 26-16

Summary 

FINRA has amended its TRACE rules to expand the scope of the principal transaction indicator (previously applicable only to transactions with non-member affiliates) to also include transactions with member affiliates. This change will improve transparency in TRACE-eligible securities by streamlining dissemination of same-priced prints reflecting related transactions between a member and its member affiliate. The effective date of the amendments by which compliance is mandatory is August 2, 2027.

Ensure Discrepancies are Reported or Balance is Paid

Firms must submit any amount owed on the Final Statement to FINRA by this day. Money can be deposited directly into the Renewal Account, or firms can rely on FINRA to transfer funds from the firm's Flex-Funding Account beginning Jan. 22. To take advantage of this transfer, the complete amount due for renewals must be available in your firm’s Flex-Funding Account. See the Renewal Payment Options page for more information.

Retrieve and Schedule Payment for the Final Statement in E-Bill

Final Statements are available in E-Bill on Jan. 2.

Preliminary Statement reports are replaced with Final Statement reports in CRD/IARD.

Many firms find it convenient to schedule any required payment while logged in to E-Bill to retrieve the statement. If additional payment is not required, the Final Statement will reflect "Paid in Full." Any overpayment FINRA received from a firm is now available in the firm’s Flex-Funding Account.

Ensure Full Payment is Available in Renewal or Flex-Funding Account by This Date

FINRA-registered firms should ensure payment is received and posted to your account by this day. Money can be deposited directly into your firm’s Renewal Account, or firms may rely on FINRA to transfer the money from your firm's Flex-Funding Account that begins Dec. 7. To take advantage of this transfer, the complete amount due for renewals must be available in your firm’s Flex-Funding Account. See the Renewal Payment Options page for more information.

Mass Transfer Moratorium

A mass transfer is used to systematically transfer individuals and branch offices from one firm to another firm after a merger, acquisition, succession or consolidation. Nov. 25, 2026, is the last day firms can request a mass transfer this year. There will be a moratorium on mass transfer processing from Dec. 18, 2026, through Jan. 1, 2027.

Retrieve (and Schedule Payment for) the Preliminary Statement in E-Bill

Preliminary Statements are available in E-Bill beginning Nov. 9. Entitled users can view renewal accounts, generate annual renewal statements, pay annual renewal assessments, and enable email alerts about the Renewal Program. Many firms find it convenient to submit or schedule their payment while logged in to E-Bill to retrieve the statement. Preliminary Statement reports are available in CRD and IARD. Be sure to save or print reports before Final Statements are generated.

2022073341601 Moors & Cabot, Inc. CRD 594 AWC vrp.pdf

From at least January 2020 to May 2024, Moors & Cabot violated FINRA Rules 3310(a), 3310(f)(ii), and 2010 by failing to develop and implement an anti-money laundering (AML) compliance program reasonably expected to detect and cause the reporting of suspicious transactions, including transactions involving money movements, and to conduct ongoing monitoring to identify and report suspicious transactions.
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