FINRA Is Open

SR-FINRA-2025-009

Rule Filing Status: Filed for Immediate Effectiveness

Rule change to amend FINRA Rule 6897 to establish fees for Industry Members related to reasonably budgeted Consolidated Audit Trail (“CAT”) costs of the National Market System Plan Governing the Consolidated Audit Trail for the period from July 1, 2025 through December 31, 2025. These fees would be payable to Consolidated Audit Trail, LLC and referred to as “CAT Fee 2025-2.”

2022073425101 Investment Placement Group CRD 14458 AWC gg (2025-1754612405343).pdf

Between January 2020 and November 2022, IPG failed to reasonably supervise the use of an approved electronic instant messaging platform provided by a vendor and failed to preserve and review certain business-related communications sent and received through the platform. Therefore, it violated Section 17(a) of the Securities Exchange Act of 1934, Exchange Act Rule 17a-4, and FINRA Rules 4511, 3110, and 2010. For these violations, IPG is censured, fined $100,000, and has agreed to an undertaking.

SR-FINRA-2025-011

Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend FINRA Rules 6380A and 6380B regarding the operation of the FINRA/NYSE Trade Reporting Facility, the FINRA/Nasdaq Trade Reporting Facility Carteret, and the FINRA/Nasdaq Trade Reporting Facility Chicago (the “Trade Reporting Facilities” or “TRFs”) to extend TRF operating hours from opening at 8:00 a.m. Eastern Time (“E.T.”) to opening at 4:00 a.m. E.T.

2020068547301 Cantor Fitzgerald & Co. CRD 134 AWC vr (2025-1754612405160).pdf

Between September 2017 and January 2022, Cantor violated Rule 104 of Regulation M of the Securities Exchange Act of 1934 and FINRA Rule 2010 in 12 instances by filing untimely notices of its intent to engage in syndicate covering transactions. Between February 2017 and January 2022, Cantor violated FINRA Rules 5190 and 2010 in 75 instances by filing untimely or inaccurate notifications with FINRA in connection with its participation in security distributions that were subject to Regulation M under the Exchange Act.
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