Summary
FINRA’s CAB rules provide a simplified rulebook for broker-dealers that engage only in limited capital advisory, corporate restructuring and private placement activities. FINRA is requesting comment on proposed amendments to the CAB rules to make them more useful to CABs without reducing investor protection.
The proposed rule text is available in Attachment A.
Questions
(a) Applicability of Rule
A claimant may request default proceedings against any respondent that falls within one of the following categories and fails to file an answer within the time provided by the Code:
(1) A member whose membership has been terminated, suspended, canceled, or revoked;
(2) A member that has been expelled or barred from FINRA;
(3) A member that is otherwise defunct; or
(
In addition to the Small Firm Helpline, FINRA has implemented other programs for small firms:
Benefits Specific to Small Firms
Increased the number of Certified Registered Compliance Professional small firm scholarships.
Significantly reduced the small firm registration fee for FINRA conferences.
Initiated a retrospective review of FINRA Rule 4311 (Carrying Agreements), especially important
In observation of the Thanksgiving holiday, Market Transparency Systems will be closed on Thursday, November 25, 2021 and will close early on Friday, November 26, 2021. See below for more information on modified hours:
TRACE
See the table below for a schedule of modified hours (these hours also apply to BTDS/ATDS/SPDS/144A). Thank you for your attention to this matter.
(a) A surcharge in the amount indicated in the schedule below will be assessed against each member that:
(1) Files a claim, counterclaim, cross claim, or third party claim under the Code;
(2) Is named as a respondent in a claim, counterclaim, cross claim, or third party claim filed and served under the Code; or
(3) Employed, at the time the dispute arose, an associated person who is named as a
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Sec. 9. (a) Except as otherwise provided in these By-Laws, the Nominating Committee shall nominate and, in the event of a contested election, may, as described in Section 11(b), support: Large Firm, Mid-Size Firm, Small Firm, Public, Floor Member, Independent Dealer/Insurance Affiliate and Investment Company Affiliate Governors for each such vacant or new Governor position on the Board
(a) Each member shall designate an associated person who shall be responsible for each general ledger bookkeeping account and account of like function used by the member and such associated person shall control and oversee entries into each such account and shall determine that the account is current and accurate as necessary to comply with all applicable FINRA rules and federal securities laws
(a) Definition of Bond Mutual Fund Volatility Ratings
For purposes of this Rule and any interpretation thereof, the term "bond mutual fund volatility rating" is a description issued by an independent third party relating to the sensitivity of the net asset value of a portfolio of an open-end management investment company that invests in debt securities to changes in market
Before any customer order is executed, there must be placed upon the order form or other similar record of the member for each transaction, the name or designation of the account (or accounts) for which such order is to be executed. No change in such account name(s) (including related accounts) or designation(s) (including error accounts) shall be made unless the change has been authorized by a
