December 6, 2021FINRA President and CEO Robert Cook and Vice President of Member Relations and Education Kayte Toczylowski are joined by Vice President of Testing and Continuing Education (CE) David Scrams to discuss the CE Transformation including information on the Maintaining Qualifications Program and the transition to an annual Regulatory Element requirement. Senior staff also discuss
FINRA senior staff host this one-hour webinar to discuss the Remote Inspections Pilot Program. This session reviews frequently asked questions we’ve received, the open enrollment and opt-out periods, and the data and information requirement for the program.This event is open to FINRA member firms only and registration is required for each webinar. Participants must provide their firm's
FINRA recently released a number of Regulatory Notices that support the effort to modernize rules for member firms and associated persons. This webinar is designed to review the comment process, assist firms with how to comment and provide what type of information is helpful to receive in comments. FINRA staff share examples of the impact of comment letters and how they are used. This
Firm Failed to File Nearly 1,500 Suspicious Activity ReportsWASHINGTON—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 failed
Firms applying for FINRA membership, with the exception of sole proprietorships, must have at least two registered principals and one Financial and Operations Principal (FinOp), according to the FINRA Rule 1010 Series. Applicant firms, however, may request a waiver or exemption from the two principal requirement in accordance with FINRA Rule 9610 if the firm will be conducting a very limited
Hello - It has been brought to my attention that FINRA is considering taking action against "complex products" which include leveraged and inverse funds. Leveraged funds are important to my investment strategy. I use them as a limited part of my portfolio with the goal of seeking enhanced returns. It should be my option to choose which investments are right for me and my family. I'
Below are links to the central web sites that provide copies of each of the three NMS Plans in which FINRA participates.
Identity theft occurs when someone obtains your personal information and uses it to take your money or to commit fraud or other crimes. It can devastate your credit rating and derail financial security. Here's how you can protect yourself.
Hello FINRA, I have been using leveraged ETF's in my portfolio using a strategy based on an algorithm that helps me decide when to buy and sell and I have been successful using this strategy. I have a firm belief that I, not the regulators should be able to choose the investments that are right for myself and my family. Public investments should be available to all of the public,
1. Leverage to the extreme has gotten us into a lot of financial problems ... people, companies, cities, states, the country as a whole and the world. Mortgages with no money down (total leverage), 5X and 10X leverage bond products sold prior to the 2008 crash or 3X funds for stocks or commodities.
Often, when these investments break down, the issuers get off with a slap on the hand and the
