FINRA announced today that it has sanctioned four firms—M1 Finance LLC, Open to the Public Investing, Inc., SoFi Securities LLC, and SogoTrade, Inc.—a combined $2.6 million, including over $1 million in restitution to retail customers enrolled in fully paid securities lending programs and fines of $1.6 million for the firms’ related supervisory and advertising violations.
(a) Development
(1) Industry Member file submission and data integrity testing for Phases 2a and 2b shall begin in December 2019.
(2) Industry Member testing of the Reporter Portal, including data integrity error correction tools and data submissions, shall begin in February 2020.
(3) The Industry Member test environment shall open with intra-firm linkage validations to Industry Members for
In accordance with the industry-led initiative to shorten the settlement cycle from two business days (T+2) to one business day (T+1), FINRA will sponsor two production User Acceptance Tests (UAT) to allow clients to test the changes for T+1 Settlement for the Over-The-Counter Reporting Facility (ORF) and the Alternative Display Facility (ADF). These tests will occur on Saturday, May 4, 2024, and
The OATS Web Interface is intended for all Order Sending Organizations (OSOs) — including member firms and third parties acting on behalf of member firms.
FINRA has delayed the implementation of the bandwidth increase rate for the Trade Data Dissemination Service 2.1 (TDDS 2.1) vendor feed. The bandwidth is scheduled to increase from 2,500 kilobits per second (Kbps) to 3,000 kilobits per second (Kbps).
The original date for this implementation was July 24, 2023. FINRA has also cancelled the June 10, 2023 User Acceptance Test. FINRA will issue new
Service members have access to one of the lowest-cost ways to save for retirement.
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FINRA Gateway and Regulator Gateway ResolvedStatus: ResolvedFirst Reported: November 21, 2024 - 12:45 p.m.Last Update: November 22, 2024 - 1:20 p.m.Description: The issue identified with delays in submitted registration information appearing in FINRA Gateway and Regulator Gateway profiles, FINRA Gateway Reports, and APIs has been resolved. We are continuing to see some impacts from the
Investors and financial services professionals alike are increasingly using social media for a variety of business purposes. Social Media may be a new medium, but FINRA's rules on communicating with the public are still applicable. The rules protect investors from false, misleading claims, exaggerated statements, and material omissions. Below we identify key areas and concepts when using
FINRA plays an important role in regulating and providing transparency to the fixed income securities markets. For example, we operate and enforce FINRA rules regarding the Trade Reporting and Compliance Engine (TRACE®), and enforce, for our member firms, federal securities regulations governing fixed income, including those promulgated by the Securities and Exchange Commission (SEC) and
Do you have a complex stored procedure defined in a Postgres database in which there are countless different scenarios that need to be tested? One option is to use a specific DEV/QA Postgres instance where the stored procedure is run with different sets of input data and verify the results are as expected through queries.
