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2024 FINRA Annual Regulatory Oversight ReportThe Consolidated Audit Trail (CAT) topic of the 2024 FINRA Annual Regulatory Oversight Report (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) regulatory obligations and related considerations, (2) findings and effective practices, and (3) additional resources.
By Christine Kieffer, Senior Director, Office of Investor Education, FINRALast month, financial columnist Charlotte Cowles detailed how she lost $50,000 to a financial scam. Charlotte’s story is both alarming and illuminating—and very powerful. And, sadly, she is not alone.There likely are millions of scam stories like hers. Sophisticated criminal organizations steal billions of dollars every
FINRA has been made aware that users of the TRACE and ORF New Issue Form have reported that the main grid is not loading efficiently. FINRA is working to resolve this problem.
The FINRA Entitlement Program requires that each organization designate a Super Account Administrator (SAA). The SAA is entitled as an administrator to all applications participating in the FINRA Entitlement Program that are available to the organization.
After your firm files SEC Form Funding Portal, you will need access to FINRA systems to file FINRA forms such as the Form FP-NMA as well as access to the Funding Portal Registration Depository (FPRD) and other related systems.FINRA’s 2024 Entitlement User Accounts Certification ProcessFINRA’s 2024 Entitlement Certification period is April 15 – June 17. During this period, Super Account
(a) Dissemination Upon ReceiptFINRA will disseminate information on all transactions in TRACE-Eligible Securities, including transactions effected pursuant to Securities Act Rule 144A, immediately upon receipt of the transaction report, except as provided in paragraphs (b) through (d) of this Rule.(b) Periodic DisseminationFINRA will disseminate aggregated information on certain transactions in
Within FINRA, we view ourselves as working on the “front lines” of investor protection. What does that mean? It means that we act quickly to identify misconduct, stop fraud and prevent losses, obtain restitution for harmed investors, and remove bad actors from the brokerage industry. Here, we are focusing on that last piece—barring bad actors from associating with a FINRA member.Let us start with
In the last two years, FINRA has barred more than 730 brokers and associated persons. What was the most prevalent rule violation that resulted in these bars? You might think that the most brokers were barred for violating FINRA’s rule against misuse of customer funds (FINRA Rule 2150) or making fraudulent misrepresentations (Rule 2020) or, perhaps, for excessively trading customer accounts in
Among the many opportunities available to investors are those involving “crowdfunding.” Crowdfunding generally refers to the use of the internet by small businesses to raise capital through limited investments from a large number of investors. Crowdfunding investments carry significant risk, and you can lose some or all of your investment.