Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to extend the effective date of the temporary amendments set forth in SR-FINRA-2020-015 from June 15, 2020 to July 31, 2020. In response to the impacts on FINRA’s operations caused by the outbreak of the coronavirus disease (COVID-19), SR-
Regulatory Notice 12-11 announced SEC approval of FINRA Rule 4524 (Supplemental FOCUS Information), which requires each firm, as FINRA shall designate, to file such additional financial or operational schedules or reports as FINRA may deem necessary or appropriate for the protection of investors or in the public interest as a supplement to the FOCUS report, and the adoption of the Supplemental
FINRA will be performing scheduled maintenance to the OTCE.FINRA.org and OTCTransparency.FINRA.org websites on Saturday, June 13, 2020, from approximately 10 a.m. to 4 p.m. ET. During this time, these websites will be unavailable to users.
Please contact FINRA Support with any questions regarding this notice.
As far back as the 1940s, an artificial intelligence (AI) technology revolution has forever been just around the corner. Today, with significant advancements in technologies like machine learning, natural language processing and computer vision, and new customer applications like virtual assistants, that revolution is in many respects here. Not with a single, loud bang, but rather through a
Summary
FINRA is adding two new Rule 4530 Problem Codes related to SEC Regulation Best Interest (Reg BI) and Form CRS, and making related amendments to the existing Rule 4530 Problem Code related to suitability. Starting on July 18, 2020, firms can use new Problem Code 16–Reg BI and new Problem Code 17–Form CRS, when applicable, to report customer complaint information and required documents
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
FINRA has updated the Alternative Display Facility (ADF) User Guide and ADF FIX Specification for Trade Reporting to now include the Miami Stock Exchange (MIAX).
Each document’s Revision History illustrates these changes and impacted fields.
Questions regarding this notice should be sent to FINRA Product Management or call (866) 899-2107.
The COVID-19 pandemic is unlike any other crisis in recent history, which presents an opportunity to criminals who are flexible and adaptable. That means firms and regulators must be flexible and adaptable too. So FINRA created a COVID-19 Task Force to help FINRA tackle emerging issues to quickly protect investors and our markets.