WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today requested comment on its rules governing outside business activities and private securities transactions as part of a new retrospective rule review. The review aligns with the ongoing FINRA360 initiative, a comprehensive review of the organization’s operations and programs.
The review centers on rules governing broker-dealer
Summary
FINRA has adopted changes to FINRA Rules 5122 (Private Placements of Securities Issued by Members) and 5123 (Private Placements of Securities) to require members to file retail communications that promote or recommend private placement offerings that are subject to those rules’ filing requirements.1 The new filing requirements become effective on October 1, 2021.
The amended text of the
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that James S. Shorris, who has served for more than seven years in leadership positions for FINRA's Enforcement Department and that of its predecessor, NASD, will leave the organization in April to return to the private sector. Shorris has been responsible for directing the investigation and prosecution of disciplinary actions at the national and district levels.
Greg Ruppert joined FINRA in 2020 to form and lead the National Cause and Financial Crimes Detection Programs. Now, he’s been tapped to lead Member Supervision, the team responsible for the surveillance and examination of FINRA member firms and for detecting and deterring activities that can cause investor harm. On this episode, we talk to Greg about how he views this transition in leadership and his goals and areas of focus in his new role.
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that it has sanctioned an additional eight firms and 10 individuals, and ordered restitution totaling more than $3.2 million, for selling interests in private placement offerings without having a reasonable basis for recommending the securities.
Before you can buy a house, you will need to shop for—and qualify for—a home loan.
The Reg BI and Form CRS topic of the 2024 FINRA Annual Regulatory Oversight Report (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) regulatory obligations and related considerations, (2) findings and effective practices, and (3) additional resources.