Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to shorten the standard settlement cycle for most broker-dealer transactions.
Comment Period Expires: April 30, 1997
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Executive Summary
NASD Regulation, Inc. (NASD RegulationSM) requests comment on new NASD® Rule 2460 that would restrict the payment of "finders" or referral fees by NASD members to unregistered third parties for the referral
FINRA Issues Guidance on the Enhanced Confirmation Disclosure Requirements in Rule 2232 for Corporate and Agency Debt Securities
It appears that the violation of the rule described in your letter related directly to the failure of Firm X to adopt procedures to review for political contributions prior to offering employment. Therefore, we cannot conclude that Firm X has demonstrated reasonable justification or excuse for granting the requested exemption. Accordingly, Firm X's request for an exemption is denied.
FINRA has taken disciplinary actions against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).
Q1. My firm has been granted an exemption from both the recording and reporting requirements of the OATS Rules and does not currently have an obligation to report to OATS. Does my firm’s OATS exemption extend to the Consolidated Audit Trail (“CAT”) recording and reporting requirements?
A1. No. Neither SEC Rule 613 nor the CAT NMS Plan provide exemptive relief to any class of broker-dealers. As
Proposed Rule Change to Amend Section 4(c) of Schedule A to the FINRA By-Laws
Proposed Rule Change Relating to the Reporting of OTC Transactions in Exchange-Traded Managed Fund Shares (NextShares) to FINRA
Summary
FINRA has amended its suitability rule, Capital Acquisition Broker (CAB) suitability rule and rules governing non-cash compensation to provide clarity on which standard applies and to address potential inconsistencies with the Securities and Exchange Commission’s (SEC’s) Regulation Best Interest (Reg BI).1 These changes have been approved by the SEC and become effective on June 30, 2020
