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Every capital acquisition broker shall use reasonable diligence to know (and retain) the essential facts concerning every customer and concerning the authority of each person acting on behalf of such customer. For purposes of this Rule, facts "essential" to "knowing the customer" are those required to (a) effectively service the customer, (b) understand the authority of
The 2021 FINRA Annual Conference was like no other with the event held entirely online. On this episode, take a behind-the-scenes look at the fireside chat between FINRA CEO Robert Cook and FINRA Board Chair Eileen Murray as they talk about everything from return to the office to the importance of diversity, equity and inclusion.
Failure of a Participant or person associated with a Participant to comply with any of the rules or requirements of the System may be considered conduct inconsistent with high standards of commercial honor and just and equitable principles of trade, in violation of Rule 2010.
Adopted by SR-FINRA-2013-053 eff. Feb. 3, 2014.
FINRA Announces Agreements in Principle with Five Firms to Settle Auction Rate Securities Violations
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has reached agreements in principle with, SunTrust Investment Services, Inc. and SunTrust Robinson Humphrey, Inc., both of Atlanta, GA, Comerica Securities, Inc. of Detroit, MI, First Southwest Company of Dallas, TX, and WaMu Investments, Inc., of Irvine, CA, to settle charges relating to the sale of Auction Rate Securities (ARS).
TO: All NASD Members
The Board of Governors of the Federal Reserve System has adopted a number of important revisions to Regulation T. These amendments are effective on November 21, 1983; however, at their option, members may elect to operate under the revised provisions after June 20, 1983. A detailed summary of the major revisions and the text of the amended rule follows.
These changes to
Summary
FINRA has established a new Supplemental Liquidity Schedule (SLS).1 The new SLS, which members subject to the requirement will need to file as a supplement to the FOCUS Report, is designed to improve FINRA’s ability to monitor for events that signal an adverse change in the liquidity risk of the members with the largest customer and counterparty exposures. FINRA is issuing this Notice to
FINRA's premier event—the Annual Conference provides the opportunity for practitioners, peers and regulators to exchange ideas on today's most timely compliance and regulatory topics. The conference offers industry professionals a variety of sessions related to current trends in technology, cybersecurity, risk management and much more.
Agenda
All times are listed in Eastern Time.
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Impact: All Firms
Firms without dedicated information security professionals may wish to review this information with any vendors who provide those services to the firm.
As FINRA continues to observe an increasing number of ransomware attacks impacting member firms, the Cyber and Analytics Unit (CAU) within FINRA’s Member Supervision program is highlighting an Advisory issued by the
While putting out notices is a (small) step in the right direction, the punishment needs to fit the crime. The current penalties for the majority of already fraudulent, illegal or criminal market activities are fines which represent a minute fraction of the profit gained by perpetuating them. As such, any enforcement (on the rare occasions enforcement actions are even taken) simply represents the
Short interest reporting should be instantaneous. Not sure why the reporting on SI and other short positions data is so delayed and unreliable but for the market to be fair, both sides of positions need to see all data equally for manipulation to be in check. If changes to short data being made available publicly and in reasonable times then I fear the market will never be fair and retail