Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend FINRA Rule 6897(b) (CAT Cost Recovery Fees) to implement a Consolidated Audit Trail (“CAT”) cost recovery fee designed to permit FINRA to recoup its designated portion of the reasonably budgeted CAT costs of the National Market
The $25,000 requirement for pattern day traders in order to consistently trade Intraday is more hazardous then a “protection” the $25,000 requirement to preform consistent intraday trades, prevents small “start up investors” or people wanting to learn to day trade from effectively trading, as the PDT can effectively stop someone from avoiding a reversal in price action due to plain fear of being
Disclosure of risks of day trading should be enough. The $25K limit during volatile mark-to-market accounting causing my $25K risk trading account to occasionally hit the minimum equity call even though I never trade outside the cash available in my trading account. The margin portion of my account is needed for trading more complex option strategies which limit my exposure. This rule
As previously communicated, beginning Monday, January 13, 2025, FINRA will require Multi Factor Authentication (MFA) for access to all production API reference data files. This is the final reminder clients will receive regarding this change.Beginning on January 13, 2025, FINRA will no longer support the use of digital certificates to access the Reference data API and only MFA access will be
The Series 51 exam—the Municipal Fund Securities Limited Principal Qualification Examination (FP)—is a Municipal Securities Rulemaking Board (MSRB) exam.The exam consists of 60 scored questions and five unscored pretest questions. The additional questions are randomly distributed. Candidates are given two hours and 45 minutes to complete the exam. The passing score is 70%.For additional
The Series 53 exam—the Municipal Securities Principal Qualification Examination (MP)—is a Municipal Securities Rulemaking Board (MSRB) exam. The exam consists of 100 scored questions and 10 unscored pretest questions. The additional questions are randomly distributed. Candidates are given three hours and 15 minutes to complete the exam. The passing score is 70%.For additional information
The following charges shall be paid by SLATE Participants for the use of the Securities Lending and Transparency Engine (“SLATE”):System FeesLoan Reporting FeesData FeesSLATE Web Browser Access Fee – $25/month per user ID Initial Covered Securities Loan – $0.07Market Data: SLATE Loan-Level Data and Daily Loan Statistics – $3,000/month, except for qualifying Tax-Exempt Organizations.&
