Guidance
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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.
Requirements under NASD Rule 3030 (formerly Article III, Section 43) for investment seminar activities conducted by dually registered persons that charge fees from participants.
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.
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.
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).
1. Does Rule 5110 apply to public offerings that also are regulated under Rule 2310?
Yes. Rule 2310 regulates the underwriting terms and arrangements of direct participation programs and unlisted real estate investment trusts (collectively, “Investment Programs”) that are publicly offered. All public offerings in which a member participates, with limited exceptions provided in Rule 5110(h), must be filed, including Investment Programs.
Utilize this checklist to determine if a private residence from which an associated person engages in supervisory functions meets the residential supervisory location (RSL) eligibility requirements and conditions.
Background
In response to the March 2017 Special Notice on Engagement issued as part of FINRA360, FINRA received a number of comments and suggestions regarding engagement in connection with FINRA's rulemaking process. After carefully reviewing and analyzing the comments, FINRA is taking a number of actions to address the comments and suggestions that it received.
Rulemaking Process