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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The Municipal Trades Below Minimum Denomination Report displays statistics about transactions your firm effected with customers where the denomination was below the minimum denomination provided to DTCC’s New Issue Information Dissemination Service (NIIDS) and/or reference data obtained from Thomson Reuters. This report is designed to aid firms in monitoring their compliance with MSRB Rule G-15(f). MSRB Rule G-15 (f) requires, with some exceptions, that firms should no
Background
Another issue we are studying through the lens of FINRA360 is branch office inspections. The responsibility of firms to supervise their associated persons is a critical component of federal broker-dealer regulation. Over the last few years, and in comments we have recently received, firms have raised questions about the manner in which they must conduct internal inspections, particularly for those offices or locations with a limited number of associated persons or where only operational or limited supervisory functions take place.
Timely and complete reporting of all information required by the FINRA By-Laws and rules, as well as the federal securities laws is critical. The Securities and Exchange Commission, FINRA, other self-regulatory organizations and state securities regulators use the information to make licensing and registration decisions, among other uses. FINRA also uses the information in BrokerCheck, which investors use for researching the professional backgrounds of firms and brokers.
In Regulatory Notice 23-17, FINRA announced its decision, effective November 30, 2023, to discontinue collecting INSITE data, pursuant to Rule 4540, at this time. As a result, effective November 30, 2023, the Canceled and As-Of Trades Report was retired from the FINRA Report Center.
Background
The Military Personnel Financial Services Protection Act ("Military Act") was enacted to protect members of the U.S. Armed Forces from unscrupulous practices regarding sales of insurance, financial and investment products. Congress amended Section 15A(b) of the Securities Exchange Act of 1934 with the enactment of the Military Act to require FINRA, as a registered securities association, to adopt rules governing the sales or offers of sales of securities on the premises of any military installation to members of the U.S. Armed Forces or their dependents.1
State and national securities regulators and legislators came together on November 6, 2019 in Gaithersburg, MD to talk to area savers and investors about how to make informed investment decisions and to protect their retirement savings from fraud. Hear from FINRA Foundation President, Gerri Walsh, about how Marylanders are doing with their finances.
The tables below provide a reference description for all of the elements found in all views of the TRACE Quality of Markets Corporate Bond and Agency Debt Report Cards. (See TRACE Quality of Markets Report Card Figures 1 - 3 for a sample report.)
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1. How do I submit form filings to CRD?
FINRA has enhanced its engagement with key stakeholders to provide greater transparency and foster dialogue that helps us better understand the industry and markets we regulate.
For any public offering that is required to be filed pursuant to FINRA Rule 5110(a)(2), FINRA Rule 5110(a)(3)(A) describes that the required documents and information must be filed by participating members with FINRA no later than three business days after any documents are filed with or submitted to the SEC, including confidential filings or submissions, or any state securities commission or other similar U.S.
The TRACE Markup/Markdown Analysis Report is a monthly report designed to assist firms in their supervision activities by providing transparency into a portion of FINRA's surveillance program of corporate and agency fixed income transactions customer pricing.
The TRACE Markup/Markdown Analysis Report is built upon logic developed to pair purchase and sale transactions reported to TRACE.
1. Where can I access a list describing the exams listed in CRD?
A listing of the exams available in CRD can be found on the Qualification Exams page.
2. How long is an exam window in CRD?
Exam windows are valid for 120 days. Provided that an exam candidate is not subject to a waiting period after a previous failed attempt, the exam window start date will be the day following the submission of the exam enrollment request.