FINRA is amending its TRACE Data agreements, including the Vendor Agreement, the Non-Real-Time TRACE Data Agreement, the Historic Data Agreement and the Academic Corporate Bond TRACE Data Agreement, to update the procedures for notices required or permitted under the agreement to, among other things, allow notices to be sent via email. In addition, other amendments are being made to correct typos
Firm Failed to File Nearly 1,500 Suspicious Activity Reports
WASHINGTON—FINRA announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. $6 million for failing to establish and implement policies, procedures, and internal controls reasonably designed to cause the reporting of suspicious transactions as required by the Bank Secrecy Act. In particular, Merrill Lynch
Firm Violated Reg BI, Excessively Traded, and Churned Numerous Customer Accounts, Including Those of Gold Star Families
WASHINGTON—FINRA announced today that it has expelled Monmouth Capital Management for churning and excessively trading customer accounts in violation of Regulation Best Interest (Reg BI), failing to supervise its representatives, and providing false and misleading disclosures
The Neutral Corner - Volume 2—2023
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).
From 8:00 am until approximately 8:02 am EST FINRA encountered a system issue which delayed the start of trade reporting. Firms that submitted transactions during this timeframe that received a “Trading not allowed” reject message must resubmit their transactions if they have not already done so. The issue has since been resolved and ORF trade reporting is operating normally.
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Table of Contents
3.1 National Market System
Table 3.1.1 Shares of National Market Systems (NMS) Stocks Trading Summary, 2018–2022
Table 3.1.2 National Market Systems (NMS) Stocks Trading by Venue Type, 2019–2022
Figure 3.1.3 Monthly National Market Systems (NMS) Stocks Trading by Venue Type
Figure 3.1.4 Monthly National Market Systems (NMS) Stocks Trading Outside of Normal
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Table of Contents
4.1 CAT Events
Table 4.1.1 Order Events Reported to the Consolidated Audit Trail (CAT) and Surveilled by FINRA SRO – Monthly Total Events1
Table 4.1.2 Order Events Reported to the Consolidated Audit Trail (CAT) and Surveilled by FINRA SRO – Daily Average Events1
4.2 Options Activity
Figure 4.2.1 Options Trading Activity By Originating Account Owner Type, 2022
