Guidance

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

1. How do I entitle someone to access an eFOCUS report?
2. Where are eFOCUS filings located in the redesigned FINRA Gateway?
3. How do I transmit an eFOCUS filing to my clearing firm?
4. When are my eFOCUS filings due?
5. Where can I see previously filed eFOCUS reports?
6. How do I amend a submitted eFOCUS report?
7. How do I print an eFOCUS report?

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 not effect a customer trans

Background

A large number of registered representatives are also Certified Financial Planner^TM (CFP^®) professionals. These professionals must complete a minimum of 30 continuing education (CE) hours every two years as part of the requirements for CFP certification renewal. Through the FINRA360 process, a number of firms expressed a desire for improved opportunities with regard to continuing education credits.

The FINRA qualification and registration requirements are set forth in FINRA Rules 1210 through 1240.¹ These rules, among other things: (1) require the registration of individuals as representatives or principals; (2) allow for the permissive registration of associated persons of firms; (3) establish a waiver program for individuals working for a financial services industry affiliate of a member firm; (4) require firms to designate a Principal Financial Officer and a Principal Operations Officer; and (5) set forth requirements for registered persons who are to function as princip

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.

Q. What is a duplicate disclosure and how is a duplicate disclosure created?

Background

In March 2017, FINRA issued a Special Notice on its engagement programs as part of FINRA360, its comprehensive review of its operations. In response to the Special Notice, FINRA received a number of comments and suggestions regarding the usefulness of some advisory committees, their membership and their effectiveness as a vehicle for dialogue between FINRA and member firms. After carefully reviewing and analyzing the comments, FINRA is taking a number of actions to address the comments and suggestions. 

1. When are books, records and accounts under the “control” of a member firm, associated person or person subject to FINRA’s jurisdiction?

For purposes of Rule 8210, whether a particular document is within a member firm’s or person’s “control” is determined by the facts and circumstances of each situation. Generally, a document will be considered to be in the control of a member firm or person if the firm or person has the legal right, authority or ability to obtain the document upon demand.¹

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.)

NASAA, the SEC, and FINRA co-hosted a free webinar on identifying and reporting the financial exploitation of senior investors. Firms can use this webinar to help train associated persons about how to identify and report financial exploitation of senior and vulnerable adult investors.

1. ¿Conduce FINRA sus procedimientos de arbitraje en Ingles?
2. ¿Qué plazo tengo para radicar una solicitud de arbitraje?

Background

Small firms represent a critical portion of FINRA’s membership and often face regulatory challenges that are unique from their large firm counterparts. In an effort to provide additional compliance education and consistent with the FINRA360 goal of being a more effective regulator, FINRA launched The Small Firm Report in April 2018. The Small Firm Report is a free conference call series hosted by senior FINRA leaders who discuss trending topics, new rules and regulatory guidance and best practices, as well as answer questions from participants.

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.  

Overview

The following tool identifies key cybersecurity risks currently facing small firms and helps them enhance their customer information protection, and cybersecurity written supervisory programs (WSPs) and related controls, including: