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).
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to adopt on a permanent basis the pilot program for Market-Wide Circuit Breakers in FINRA Rule 6121.02 (Market-wide Circuit Breakers in NMS Stocks).
LETFs are indeed complex investment instruments but I believe current disclosure requirements are more than sufficient for investors to remain informed about the products they are buying. Limiting the purchase of LETF products to accredited investors or requiring financial literacy tests to purchase only puts unnecessary roadblocks in place that are easily circumvented. Enforcing one day holding
FINRA Rule 4111 (Restricted Firm Obligations) addresses risks from broker-dealers with a significant history of misconduct, including firms with a high concentration of individuals with a significant history of misconduct. The rule allows FINRA to impose new obligations on broker-dealers with significantly higher levels of risk-related disclosures than other similarly sized peers, based on
Less regulation, not more. Existing disclosures on options and complex products are sufficient and clear. Retail traders and investors need level playing field, not more barriers to market access, especially access to innovative financial products. Options and leveraged ETFs, when used properly, are very useful and accelerate the journey towards financial goals. I urge FINRA to maintain status
Numerous retail investors, including myself, responsibly use leveraged ETFs in a holistic investing strategy while understanding the risks. Leveraged ETFs aren't the only ETF that could be dangerous to an uninformed investor, yet we shouldn't limit every ETF that presents volatility. There is no need to punish the informed investor to protect uninformed investors who may decide to pick
In observance of Good Friday, FINRA’s Market Transparency Reporting Systems will be closed on Friday, April 15, 2022. Affected applications include:
Alternative Display Facility (ADF)
Over-the-Counter Reporting Facility (ORF)
Trade Reporting and Compliance Engine (TRACE)
FINRA/Exchange Trade Reporting Facilities (TRFs)
As stated in the data feed interface specifications, FINRA
Resources for Rules Concerning Brokers with a Significant History of Misconduct
Regulatory Notice 21-09
Mapping of Disclosure Categories for Rule 1017(a)(7)
Materiality Consultation Checklist for Rule 1017(a)(7)
FINRA Taping Rule (FINRA Rule 3170)
General Information on Statutory Disqualification and FINRA’s Eligibility Proceedings
Interim Plans of Heightened Supervision FAQs
Sample
