Broker-dealers that recommend or sell private placements have additional requirements under FINRA and SEC rules. These requirements include:
Filing certain offering documents
Ensuring the suitability of any investments they recommend
Filing Requirements
Two FINRA rules require firms to file certain offering documents and information about the issuer, the offering terms, and the firms selling
FINRA is responsible for the Central Registration Depository (CRD®) program, which supports the licensing and registration filing requirements of the U.S. securities industry and its regulators. The CRD program covers the registration records of broker-dealer firms, branch offices and their associated individuals, including their qualification, employment and disclosure histories; it also directs the processing of form filings, fingerprint submissions, collection and disbursement of registration-related fees, qualification exams and continuing education sessions. The registration filing requirements of the CRD program are being integrated into the new FINRA Gateway system.
I. IntroductionFINRA, a not-for-profit organization, is dedicated to protecting investors and safeguarding market integrity in a manner that facilitates vibrant capital markets. Authorized by Congress, FINRA works to protect America’s investors by making sure the broker-dealer industry operates fairly and honestly. We oversee more than 624,000 brokers across the country—and analyze billions of
The Cybersecurity and Technology Management topic of the 2024 FINRA Annual Regulatory Oversight Report (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) regulatory obligations and related considerations, (2) findings and effective practices, and (3) additional resources.
FINRA’s Corporate Financing Rules—Rules 5110, 2310 and 5121—generally compel firms that participate in public offerings of securities to fulfil three requirements: Firms must file documents and other information in connection with public offerings. These documents include registration statements or offering circulars and their exhibits and amendments. The documents must be submitted no later than
¿Qué significa Ombuds? Ombuds (o Ombudsman) es un término originario de Suecia y significa representativo. La International Ombuds Association (Asociación Internacional de Ombuds) describe a un ombuds como "alguien que ayuda a individuos y grupos en la resolución de conflictos o inquietudes”.
La Oficina del Ombuds trabaja independientemente de otros departamentos y de la dirección de FINRA. Rinde cuentas directamente al Comité de Auditoría de la Junta Directiva de FINRA.
November 1999
Are You Ready For The Year 2000?
As the Year 2000 approaches, most media reports and surveys indicate that businesses are making significant progress and will be well prepared for the century date change. However, there is still work that needs to be done. Organizations should continue to focus on maintaining a high level of readiness. One important way to achieve this is through
Summary
FINRA has updated the form that members must use to file offering documents and information pursuant to FINRA Rules 5122 (Private Placements of Securities Issued by Members) and 5123 (Private Placements of Securities) (Filer Form). The updated Filer Form will be accessible in the FINRA Gateway beginning May 22, 2021, and includes new and updated questions that will facilitate review of
Summary
Several firms have recently informed FINRA that malicious actors are using registered representatives’ names and other information to establish websites (“imposter websites”) that appear to be the representatives’ personal sites and are also calling and directing potential customers to use these imposter websites. Imposters may be using these sites to collect personal information from
