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Regulatory Notice 26-17

Summary

FINRA has adopted amendments to FINRA Rule 4515.01 (Allocations of Orders Made by Investment Advisers) to eliminate the requirement that a principal review and approve allocations of bulk investment adviser orders received after trade date. The amendments preserve investor protections while removing unnecessary burdens in light of technological advances in the processing of allocations. The amendments will become effective on November 16, 2026.

2025088387901 John W. Howell CRD AWC ks.pdf

Howell willfully failed to timely amend his Uniform Application for Securities Industry Registration or Transfer (Form U4) to disclose an investment-related civil judgment entered against him. Although the judgment was entered in May 2021, it was not disclosed until November 2025. As a result, Howell violated Article V, Section 2(c) of FINRA’s By-Laws and FINRA Rules 1122 and 2010. For this violation, Howell is suspended in all capacities for three months and fined $5,000.
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