Guidance | FINRA.org

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. 

5 A B C D E F G H I L M N O P Q R S T V

5

A

B

C

D

E

F

G

H

I

L

M

N

O

P

Q

R

S

T

V

Interpretive Letter
Interpretive Letter to Richard Lewandowski, The Options Exchange

Short sales by options professionals established during the course of bona fide market making activities are exempt from the affirmative determination requirements, regardless of whether the short sales constitute a permitted offset under Regulation T.

July 26, 1995
Regulatory and Compliance Alerts (RCA)
Regulatory & Compliance Alert - Summer 1995
full_html
July 01, 1995
Regulatory and Compliance Alerts (RCA)
Regulatory & Compliance Alert - Spring 1995
full_html
March 31, 1995
Regulatory and Compliance Alerts (RCA)
Regulatory & Compliance Alert - Winter 1995
full_html
January 01, 1995
Regulatory and Compliance Alerts (RCA)
Regulatory & Compliance Alert - Fall 1994
full_html
October 01, 1994
Interpretive Letter
Interpretive Letter to Name Not Public
The applicability of Section 40 (Rule 3040) to situations in which a financial plan is delivered to a customer without an execution of a securities transaction.
September 27, 1994
Interpretive Letter
Interpretive Letter to Name Not Public

Requirements under NASD Rule 3030 (formerly Article III, Section 43) for investment seminar activities conducted by dually registered persons that charge fees from participants.

September 15, 1994
Interpretive Letter
Interpretive Letter to Name Not Public

Clarification of NASD Notice to Members 94-44 to situations in which a dually registered person maintains discretionary trading authority, determines portfolio changes, and prepares trade instructions for customer accounts and charges the accounts an asset-based fee.

August 05, 1994
Regulatory and Compliance Alerts (RCA)
Regulatory & Compliance Alert - Spring 1994
full_html
June 01, 1994
Regulatory and Compliance Alerts (RCA)
Regulatory & Compliance Alert - Winter 1994
full_html
March 01, 1994
Interpretive Letter
Interpretive Letter to Name Not Public
Suitability responsibilities of a discount broker/dealer when a customer is trading in options contracts (under former Article III, Section 2, now Rule 2310).
May 18, 1993
Interpretive Letter
Interpretive Letter to Name Not Public

Whether a proposed standby purchase agreement entered into between affiliate of a member and an issuer in connection with a public offering of the issuer's common stock could constitute an option.

February 24, 1993
Interpretive Letter
Interpretive Letter to Name Not Public
Application of NASD Notice to Members 90-52 to member firms that do not recommend securities transactions to their customers, but limit their business to accepting unsolicited orders from customers (under former Article III, Section 2, now Rule 2310).
November 13, 1990
Interpretive Letter
Interpretive Letter to Name Not Public

Cash rebates issued to pension plan customers with respect to secondary market transactions in outstanding securities (under former Article III, Section 24, now Rule 2740 and IM-2740).

December 22, 1988
FAQ
OATS Clock Synchronization FAQ
Following are "Frequently Asked Questions" regarding the Order Audit Trail System (OATS).
FAQ
Trade Reporting Frequently Asked Questions
The guidance provided in this FAQ pertains to the reporting of over-the-counter (OTC) transactions in equity securities to a FINRA Facility (a Trade Reporting Facility (TRF), the Alternative Display Facility (ADF) or the OTC Reporting Facility (ORF)).
Compliance Tools
OATS Compliance Daily Report Card

The Daily Total Summary Data and Detail Data Download files for the OATS Compliance Report Card provide underlying totals and detail of the data contained in the monthly summary OATS Compliance Report Card.

The tables below represent the data within the Daily Totals Summary Report Card and the Detail Data Download files.

Summary Definitions and Data Fields

Term

Definition

Guidance
Interpretations of Rule 4210
The interpretations offer guidance to assist firms in complying with FINRA Rule 4210.
Compliance Tools
Guidance for Governing Documents and Attestations to Evidence Ownership
Form CMA is organized by 14 standards for admission as set forth under Rule 1014(a) and specifies the documents and information required to support each standard. The items listed in this checklist are also organized by standard and focus on the standards and their related documentation and information that an applicant may inadvertently overlook when submitting the application. Firms should treat this checklist as a starting point for preparing Form CMA. Firms are advised to review the rules applicable to a CMA, including Rules 1014 and 1017, together with Form CMA. During the course of the review process, FINRA may request additional documents and information as necessary to render a decision on the application.
Compliance Tools
CAT - TRF/ORF Trade Data Consistency Report Card
.figure-image { display: block; margin: 0 auto; width: 72%; }

Overview

This guide explains how to use FINRA's Trade Data Consistency Interactive Report Card to identify and investigate discrepancies between your firm's CAT and TRF/ORF trade records.

Compliance Tools
Firm Checklist for Compromised Accounts
What should your firm do after it discovers that customers’ accounts have been compromised?
Compliance Tools
Online Learning Report Cards
The CE Regulatory Element Report is published each quarter for any firm that has had at least one representative take a Regulatory Element CE session during the quarter. The report provides information about the firm's performance as well as industry performance during the quarter for comparison.
FAQ
OATS OTC FAQ
Frequently asked questions related to OATS reporting requirements to OTC equity securities.
FAQ
Frequently Asked Questions about Transactions in CRD
Understanding Your FINRA Flex-Funding Account
2019 Exam Findings Report
Uniform Transfers to Minors Act (UTMA) and Uniform Grants to Minors Act (UGMA) Accounts

Regulatory Obligations

FINRA Rule 2090 (Know Your Customer) requires member firms and their associated persons to use reasonable diligence to determine the “essential facts” about every customer and “the authority of each person acting on behalf of such customer.” Regulatory Notice 11-02 (SEC Approves Consolidated FINRA Rules Governing Know-Your-Customer and Suitability Obligations) advised that firms verify the essential facts about a customer “at intervals reasonably cal