Guidance

We offer guidance to firms in the form of podcasts, webinars, FAQs, reports, and more. Use the toggle below to find guidance by topic, type or date. 

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Notice
Regulatory Notice 08-50
08-50 - Procedures for Submitting Written Attestation of Bona Fide Market Making Relating to Fail-to-Deliver Positions
September 24, 2008
Notice
Regulatory Notice 08-47
08-47 - NASD Rule 3070(c) and Incorporated NYSE Rule 351(d) require all member firms to report on a quarterly basis statistical information regarding customer complaints.
September 15, 2008
Guidance
Regulatory Notice 08-46
08-46 - Interpretive Guidance on Capital Treatment of Introducing Broker-Dealers' Clearing Deposits
September 05, 2008
Notice
Regulatory Notice 08-45
Effective September 22, 2008, FINRA will begin deducting all delinquent arbitration and mediation fees owed by member firms from their Central Registration Depository accounts.
August 25, 2008
Notice
Regulatory Notice 08-42
The SEC recently adopted changes to SEC Rule 144 that shorten the holding period requirements for privately placed securities before they can be sold into the secondary market, subject to the conditions of the rule, and that may change industry conventions in the resale of privately placed debt securities.
August 15, 2008
Guidance
NASD Review of Hedge Fund Advertising Results in Formal Action

In January 2003, NASD’s Advertising Regulation Department contacted 64 NASD member firms to determine their level of compliance with the NASD and SEC rules that govern advertisements and sales literature for hedge funds and funds of hedge funds. Twenty-five firms responded that they had not used such communications during the subject time period. Thirty-nine firms responded with submissions of over 1000 communications including Web pages, brochures, electronic newsletters, seminar materials, and form letters.

August 12, 2008
Notice
Regulatory Notice 08-40
Technology Changes for Reporting Certain Complaint and Disclosure Information
August 06, 2008
Guidance
Regulatory Notice 08-38
FINRA Provides Clarification on SEC Guidance Regarding Emergency Orders Concerning Short Selling
July 23, 2008
Notice
Regulatory Notice 08-37
Regulatory Notice 08-37 - FINRA Reminds Firms that the Trading Activity Fee Is Assessed on Exchange-Listed Options Transactions when FINRA Is the DOEA
July 17, 2008
Interpretive Letter
FINRA Office of General Counsel (Auction Rate Securities)

NASD Rule 2110 and NYSE Rule 402.30—Partial Redemption Allocations and Disclosure Practices in Auction Rate Securities

July 09, 2008
Guidance
Targeted Examination Letter on False or Misleading Rumors

July 2008

July 01, 2008
Guidance
Regulatory Notice 08-32
FINRA Consolidates the Collection and Processing of Regulation T and SEC Rule 15c3-3 Extension of Time Requests
June 23, 2008
Notice
Regulatory Notice 08-30
Guidance Relating to Illiquid Investments
June 12, 2008
Guidance
Regulatory Notice 08-29
Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update
June 02, 2008
Notice
Regulatory Notice 08-27
The Obligation of Firms When Supervising their Registered Representatives' Use of Marketing Materials to Establish Expertise
May 20, 2008
Interpretive Letter
Letter from FINRA Office of General Counsel, May 15, 2008
NASD Rule 2510 - Discretionary Accounts - Use of a negative response process under NASD Rule 2510(d)(2)(D) to designate an alternative money market sweep fund when existing sweep fund closes with inadequate notice.
May 15, 2008
Guidance
Improving Examination Results
FINRA issues this publication to assist member firms in their compliance efforts. As in past years, this edition highlights examination priorities and frequently found deficiencies relating to FINRA's examination program.
May 01, 2008
Notice
Regulatory Notice 08-21
FINRA Issues Guidance to Broker-Dealers on Partial Redemptions of Auction Rate Securities
April 30, 2008
Notice
Regulatory Notice 08-17
Reporting of Customer Complaints Relating to Auction Rate Securities; Effective Date: April 1, 2008
April 08, 2008
Notice
Regulatory Notice 08-18
Sound Practices for Preventing and Detecting Unauthorized Proprietary Trading
April 08, 2008
Notice
Regulatory Notice 08-13
FINRA Consolidates the Collection of Short Interest Data; Effective Date: May 15, 2008
March 27, 2008
Guidance
Regulatory Notice 08-09
FINRA Revises Portfolio Margining Risk Disclosure Statement and Written Acknowledgment for Customers Using Portfolio Margin Accounts
March 14, 2008
Guidance
Targeted Examination Letter on Information Barriers

January 2008

FINRA is conducting a review of the policies, procedures and controls with respect to information barriers. To facilitate this review, FINRA requests a copy of the following information and/or documentation:  

January 01, 2008
Interpretive Letter
Interpretive Letter to Richard Schultz, Triad Securities Corp.
NASD Rule 2420 - Dealing with Non-Members
December 28, 2007
Interpretive Letter
Interpretive Letter to Mr. Julian Rainero, Bracewell & Giuliani LLP
NASD Rules 6950-6957 (OATS)
December 19, 2007