SUGGESTED ROUTING
Senior ManagementInstitutionalLegal & ComplianceMunicipalOperationsSystemsTrading
Executive Summary
On March 18, 1993, the Securities and Exchange Commission (SEC) approved NASD rules regarding quotation and transaction reporting requirements for members trading high-yield, fixed-income securities. The rules will become effective in the fourth quarter of
Firm Failed to Report Over-the-Counter Options Positions in More Than 7.4 Million Instances
WASHINGTON—FINRA announced today that it has fined BofA Securities Inc. (BofAS) $5 million for failing to report over-the-counter (OTC) options positions to the Large Options Positions Reporting system (LOPR) in more than 7.4 million instances, including 26 positions that were over the applicable
FINRA Rule 2330 (Members’ Responsibilities Regarding Deferred Variable Annuities) establishes sales practice standards regarding recommended purchases and exchanges of deferred variable annuities, including requiring a reasonable belief that the customer has been informed of the various features of annuities (such as surrender charges, potential tax penalties, various fees and costs, and market risk); and, prior to recommending the purchase or exchange of a deferred variable annuity, requiring reasonable efforts to determine the customer’s age, annual income, investment experience, investment objectives, investment time horizon, existing assets and risk tolerance.
Dear FINRA, As a US citizen and investor, I expect to be able to make my own decisions when it comes to my investing choices. Individuals should be able to choose from a variety of investments, including leveraged and inverse funds, in accordance with what is right for them in their own opinion. We are adults and can make our own informed decisions without having to jump through additional hoops
While I understand the SEC's concern to protect potential investors, straightforward access to leveraged and inverse funds are an important part of many, including my own, investment strategies. I have an extensive long portfolio and I use leveraged and inverse ETFs to hedge my long positions. This has been especially helpful to my bottom line in these recent volatile market sessions.
Report Finds No Evidence of Improper Agreement to Remove Arbitrators From Cases; FINRA to Implement Recommendations to Provide Greater Transparency
WASHINGTON – FINRA today published the report of independent counsel Lowenstein Sandler LLP, which found no evidence of an improper agreement to remove certain arbitrators from arbitration cases. FINRA also said it would promptly implement the report
SummaryFor the past several years, FINRA has encouraged firms to keep their risk monitoring analyst informed if the firm, or its associated persons or affiliates, engaged, or intended to engage, in activities related to digital assets, including digital assets that are non-securities.1 FINRA appreciates members’ cooperation with this request and is encouraging firms to continue to keep
SUGGESTED ROUTING*
Internal AuditLegal & ComplianceRegistrationTraining
*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
On March 5, 1990, the NASAA/NASD Central Registration Depository (CRD) began accepting the electronic submission of amendments to page 1 of Form U-4, the Uniform Application for Securities Industry Registration or
Don’t trust that unexpected text or direct message from a stranger—it might be the first step in a “pig butchering” scam. These scams often involve fraudsters contacting targets seemingly at random, then gaining trust before ultimately manipulating their targets into phony investments and disappearing with the funds.
The Office of the Ombuds functions independently from other FINRA departments and management. It reports directly to the Audit Committee of FINRA's Board of Governors. The Ombuds provides information to the Audit Committee and executive management — while preserving confidentiality and anonymity — on trends, issues and/or concerns.
