(a)(1) Unless otherwise permitted by FINRA, a member shall not enter into an agreement for the carrying, on an omnibus or fully disclosed basis, of any customer account in which securities transactions can be effected ("customer account" or "account"), unless such agreement is with a carrying firm that is a FINRA member. An introducing firm that acts as an intermediary for
Each member shall develop and implement a written anti-money laundering program reasonably designed to achieve and monitor the member's compliance with the requirements of the Bank Secrecy Act (31 U.S.C. 5311, et seq.), and the implementing regulations promulgated thereunder by the Department of the Treasury. Each member's anti-money laundering program must be approved, in writing, by a
(a) No person associated with a member ("employer member") shall, without the prior written consent of the member, open or otherwise establish at a member other than the employer member ("executing member"), or at any other financial institution, any account in which securities transactions can be effected and in which the associated person has a beneficial interest.(b) Any
(a) Each member shall designate and specifically identify to FINRA one or more principals who shall establish, maintain, and enforce a system of supervisory control policies and procedures that:
(1) test and verify that the member's supervisory procedures are reasonably designed with respect to the activities of the member and its associated persons, to achieve compliance with
(a) Designation of Custodian
A member that files a Form BDW shall designate on the Form BDW, as the custodian of the member's books and records: (i) a person associated with the member at the time that the Form BDW is filed; or (ii) another FINRA member.
(b) Obligations of Custodians
The custodian designated on the Form BDW shall preserve the books and records of the member
(a) FINRA may at any time, due to concerns regarding the accuracy or integrity of a member's financial statements, books and records or prior audited financial statements, direct any member to cause an audit to be made by an independent public accountant of its accounts, or cause an examination to be made in accordance with attestation, review or consultation standards prescribed by the
FIRST is a prototype taxonomy-based rulebook search tool designed by FINRA to make the FINRA rulebook more accessible when searching for relevant information or developing automated compliance functions. FIRST is enabled by a regulatory taxonomy, or a hierarchical classification of key business and regulatory terms, applied, or “tagged,” to a series of key FINRA rules.
As part of its Transparency Services improvement initiative, beginning Monday, May 19, 2025, FINRA will re-platform TRACE Securitized Products to a new Linux-based operating system. FINRA requires client testing participation for this project.Trade Reporting:TRACE clients who utilize FIX for SP trade entry and other transactions should test all FIX Tags to ensure they are properly being processed
On This PageOverview of Margin RequirementsExtensions of TimeInterpretations of FINRA's Margin RuleCustomer Margin Balance Reporting and Margin StatisticsPortfolio MarginCovered Agency Transaction MarginMargin Disclosure StatementsExternal ResourcesContact OGCOverview of Margin RequirementsThe terms on which FINRA member firms (brokers) can extend credit for securities transactions are
SummaryThe national options exchanges are closing at 1:00 p.m. Eastern Time (ET) on Friday, November 29, 2024 (the Friday after Thanksgiving), which will modify the exercise cut-off time for expiring options. FINRA reminds firms that, pursuant to FINRA Rule 2360(b)(23)(A)(viii), if a national options exchange or The Options Clearing Corporation announces a modified time for the close of trading
