<p>Application of Rule 2820 (h) to a non-cash compensation arrangement that excludes variable annuity contracts that are sold in exchange transactions pursuant to Internal Revenue Code Section 1035 or pursuant to a rollover transaction under Internal Revenue Code Section 402.<br />
</p>
<p>The expansion of the NASD's sales practice authority over group variable contracts in August 1996 requires that broker/dealers apply NASD rules to all their sales of group variable contracts, including pre-August 1996 variable contracts. Thus, broker/dealers who had not set up record-keeping procedures for pre-August 1996 contracts must now do so.<br /></p>
(a) FINRA will pass through any penalties incurred under the National Market System data plans and allocate them accordingly to the ADF Trading Center that exceeds its projected message traffic. Each ADF Trading Center will be invoiced for any penalties that may occur.
(b) In assessing capacity penalties incurred under the National Market System Plans:
(1)
This Rule applies to all requests to expunge customer dispute information from the CRD system. Except as otherwise provided in this Rule, all provisions of the Code apply to such expungement requests.
(a) Filing an Expungement Request against a Member Firm
(1) Applicability
An associated person may request expungement of customer dispute information from the CRD system by filing a statement of
Robert W. Cook's Testimony Before the Subcommittee on Capital Markets, Securities, and Investment Financial Services Committee
Washington, D.C. — The Financial Industry Regulatory Authority (FINRA) announced today that it has censured and fined UBS Financial Services, Inc. (UBS) $370,000, for making hundreds of late disclosures to FINRA's Central Registration Depository (CRD) of information about its brokers, including customer complaints, regulatory actions and criminal disclosures. Those reporting violations
Firm Failed to Follow Up on Red Flags to Detect or Prevent Theft of Funds From Senior Investors by Fraudster Posing as Fidelity Broker
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it fined Fidelity Brokerage Services LLC $500,000 and ordered the firm to pay nearly $530,000 in restitution for failing to detect or prevent the theft of more than $1 million
On behalf of the National Association of Securities Dealers ("NASD"), I want to thank the Committee for this opportunity to testify. My name is Daniel M. Sibears and I am a Senior Vice President and Deputy for Member Regulation at NASD in Washington, D.C.
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined SunTrust Investment Services, Inc., $700,000 for supervisory violations relating to its fee-based brokerage business and to commissions on certain low-priced stocks.
