Regulatory Obligations and Related Considerations
Regulatory Obligations
Exchange Act Rule 15c3-3 (Customer Protection Rule) imposes certain requirements on firms that are designed to protect customer funds and securities. Firms are obligated to maintain custody of customer securities and safeguard customer cash by segregating these assets from the firm’s proprietary business activities, and
FINRA’s Risk Monitoring and Examination Programs evaluate member firms for compliance with relevant obligations and consider specific risks relating to each firm, including those relating to a firm’s business model, supervisory control system and prior exam findings, among other considerations. While the topics addressed in this Report are selected for their interest to the largest number of
FINRA’s Membership Application Program Group (MAP) serves as the entry point to the securities industry by ensuring that prospective and current FINRA members meet FINRA’s Standards for Admission (Standards). Prospective FINRA members must seek approval for membership through the submission of a New Member Application (NMA). Existing FINRA members must file a continuing membership
NASD® has taken disciplinary actions against the following firms and individuals for violations of NASD rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).
FINRA has taken disciplinary actions against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).
GUIDANCECorporate Debt SecuritiesSUGGESTED ROUTINGKEY TOPICSCorporate FinanceLegal and ComplianceOperationsSenior ManagementTechnologyTrading and Market MakingTrainingDebt SecuritiesDissemination of Transaction InformationOperationsRule 6200 SeriesTRACE RulesTransaction ReportingExecutive SummaryOn September 3, 2004, the Securities and Exchange Commission (SEC or Commission) approved
July 9, 2004
When an NASD member firm receives or originates an order and electronically routes that order to another member firm, the routing firm must provide a Routed Order ID to the receiving firm. (This requirement does not apply when routing to an ECN or to a non-member.) Both the routing firm and the receiving firm must record and report this Routed Order ID to OATS so that NASD is able
GUIDANCE
Cost Basis Information
SUGGESTED ROUTING
KEY TOPICS
Legal & Compliance
Operations
Registered Representatives
Senior Management
Cost Basis Information
Rule 2110
Executive Summary
It has come to NASD's attention that some members may be purposely interfering with the transfer of cost basis
In addition to the Helpline, FINRA has consistently focused on addressing concerns relating to senior investors. Our efforts have included rulemaking to provide firms with tools to address financial exploitation of seniors, guidance in FINRA publications, reviews of senior investor protection programs in our examinations, enforcement actions and collaboration with other regulators, as well as
<p>Application of the OATS rules to orders that are cancelled or replaced due to a merger of the member holding the orders.</p>
