WASHINGTON—FINRA has ordered three firms—Edward Jones, Osaic Wealth, Inc. and Cambridge Investment Research, Inc.—to pay more than $8.2 million in restitution to customers who were harmed by the firms’ failures to provide available mutual fund sales charge waivers and fee rebates on mutual fund purchases. FINRA did not impose any fines in connection with these matters in recognition of each firm’s extraordinary cooperation with FINRA’s investigations.
Rulemaking items discussed at the December meeting include: ATS block data, award offsets in arbitration, qualification and registration, and shortening the settlement cycle.
Rulemaking topics discussed include: communications with the public, mark-up/mark-down rule application to US treasury securities, the municipal adviser exam fee, and the trading activity fee.
Rulemaking items discussed at the December 2016 Board meeting include: Simplified Arbitration and Procedural Rules Concerning Eligibility Proceedings.
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to adjust FINRA fees to provide sustainable funding for FINRA’s regulatory mission.
FINRA President and CEO Robert Cook, Chairman Bill Heyman, Board members and FINRA staff provide updates on the December 2017 FINRA Board of Governors meeting, including discussions around FINRA’s finances and financial transparency, 2017 accomplishments, enterprise risk management and more.
FINRA President and CEO Robert Cook and Chairman of the Board Jack Brennan review rulemaking and other matters discussed at FINRA's May Board of Governors meeting.
Rulemaking topics discussed include:
BrokerCheck link in online retail communications with the public;
definitions of public and non-public arbitrators;
expungement of customer dispute information; and
temporary cease and desist orders, expedited proceedings.
Rulemaking topics discussed include the following: BrokerCheck disclosure,
discretionary accounts and transactions,
regulatory element continuing education,
sales of securities on military installations, and
TRACE transaction reporting and historic data sets.
Watch the video report featuring highlights of the March 2018 Board of Governors meeting and read FINRA President and CEO Robert Cook’s email to firms.
