Exchange Act Rule 15c3-5 (Market Access Rule) requires broker-dealers with market access or that provide market access to their customers to “appropriately control the risks associated with market access so as not to jeopardize their own financial condition, that of other market participants, the integrity of trading on the securities markets, and the stability of the financial system.”
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Executive Summary
As requested by the Department of Treasury (Treasury), the National Association of Securities Dealers, Inc. (NASD®) provides members with information from the Office of Foreign
Dear Regulators,
I vehemently oppose restrictions on my right and the rights of my fellow man to invest in public investments.
The United States is the greatest and richest country in the world because of our freedoms and choices. Capitalism and freedom have raised more people out of poverty than all other systems combined. With our system comes winners and losers, but that has always been true.
As announced in Regulatory Notice 21-02, FINRA is modifying the convention for rounding the original Loan-To-Value ratio used in the dissemination of transactions in agency pass-through mortgage-backed securities and Small Business Administration (SBA)-backed asset-backed securities traded in specified pool transactions. FINRA previously announced that this change will become effective
The Books and Records section of the 2021 Report on FINRA’s Risk Monitoring and Examination Activities (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) relevant regulatory obligations and related considerations, (2) exam findings and effective practices, and (3) additional resources.
As algorithmic trading strategies, including high frequency trading (HFT) strategies, have grown more widespread in U.S. securities markets, the potential for these strategies to adversely impact market and firm stability has likewise grown.
FINRA member firms that engage in algorithmic strategies are subject to SEC and FINRA rules governing their trading activities, including FINRA
NASD Imposes $200 Fee for Form 211 Applications
On January 2, 1992, the SEC approved a proposed rule change by the NASD relating to a fee for Form 211 applications filed with the NASD pursuant to Schedule H, Section 4 of the NASD By-Laws. The rule change is effective immediately and, as a result, a $200 filing fee will be required together with each Form 211 application received on or after
Retail Investors, not regulators , should decide what public investments are right for them and their family without discrimination.
Public investments should be available to all of the public,
not just the privileged, i.e. high net worth investors.
If public investments are restricted or heavily burdened
by various barriers such as subjective tests, permissions, then this is the first step to
A firm’s journey to the cloud varied based on a given firm’s specific facts and circumstances. Several firms noted that cloud migration was not a simple, linear process, even with adequate preparation, and there was no easy formulaic way to conduct a migration, given the unique circumstances of each firm. Despite the difference in each firm’s journey, however, some common themes emerged regarding
