SEC Approves Rule Amendment Requiring That ADF Market Participant Provide Advance Written Notice When Denying Access; Effective Date: October 20, 2004
Firm Made Misrepresentations to Customers and Violated Reg BI as well as FINRA’s Suitability and Supervision RulesWASHINGTON—FINRA announced today that it has expelled broker-dealer SW Financial for multiple violations, including making misrepresentations to customers in its sales of private placement offerings of pre-initial public offering (pre-IPO) securities, churning customer
TO: All NASD Members
The Securities and Exchange Commission has adopted the amendments proposed in March to its shareholder communications rules. The amendments, which specify the obligations of brokerage firms and issuers, stipulate:
• That issuers who request a list of nonobjecting security holders from one broker must request it from all brokers with customers who beneficially own the issuer
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to extend the expiration date of the temporary amendments in SR-FINRA-2020-015 from July 31, 2020, to a date to be specified in a public notice issued by FINRA, which date will be at least two weeks from the date of the notice, and no later
We are conducting a comprehensive self-evaluation and organizational improvement initiative called FINRA360. The objective of this effort, which CEO Robert Cook launched in early 2017, is to ensure that FINRA is operating as the most effective self-regulatory organization (SRO) it can be, working to protect investors and promote market integrity in a manner that supports strong and vibrant
I believe it is critical that FINRA mandate daily reporting of short positions by all members, to include synthetic shares. It is clear that FINRA does not receive accurate updates from its members on the above and that it is having a profound negative effect upon the overall market. Retail perceives FINRA in a negative manner, an organization that does not enforce any of its rules and which
Proposed Rule change to Amend the Discovery Guide and to Make
Other Conforming Changes to Rules in the Arbitration Codes
NASD, through its wholly owned subsidiary, NASD Dispute Resolution, Inc. ("NASD Dispute Resolution"), is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to provide for the payment of a $200 honorarium per case for each arbitrator who considers contested motions for the issuance of subpoenas.
(a) The term "Clearing Broker-Dealer" or "Clearing Broker" shall mean the member firm that has been identified in the System as principal for clearing and settling a trade, whether for its own account or for a correspondent firm.
(b) The term "Correspondent Executing Broker-Dealer" or "Correspondent Executing Broker" shall mean the member firm that has
(a) Specifications
Papers filed in connection with any proceeding under the Rule 9200 Series and the Rule 9300 Series shall:
(1) be on unglazed white paper measuring 8 ½ x 11 inches, but to the extent that the reduction of a larger document would render it illegible, such document may be filed on larger paper;
(2) be typewritten or printed in either 10 or 12 point typeface or
