Board Approves Rule Proposals, Reaffirms Financial Guiding Principles
WASHINGTON – FINRA’s Board of Governors met on Dec. 4-5 at FINRA’s offices in New York, where it approved two rule proposals, received several operational updates and reaffirmed FINRA’s Financial Guiding Principles.
As is customary for the last meeting of the year, the Board spent a significant portion of the meeting
I lodge my comment on FINRA Regulatory Notice #22-08 opposing the proposed action by FINRA. Investors have legitimate risk management reasons for investing in leveraged and inverse funds as part of their retirement or other plans. Personally, I use these funds to mitigate the risk in my bond portfolios to interest rate increases that negatively impact these fixed income valuations. I understand
Here are my opinion:
1) Hurts Investors: It could potentially deny me the freedom to choose investments that could
help me achieve long-term financial security.
2) Is Arbitrary and Unworkable: FINRAs definition of complex products is so broad, arbitrary and vague that it could ensnare a vast number of commonly used public securities. Tests or criteria to determine investor understanding are
Cryptocurrency does not need to be stifled by government regulations while it's in it's infancy. It needs time and space to grow into what it can be. We all know that big banks influence Government with donations and they're stranglehold on the world is threatened by this new tech on the people's hands, which they absolutely do not want as it threatens their power and control
I have read that you are considering a new rule to impose substantial restrictions on investors being able to invest in certain types of investments which are considered "complex products," such as inverse and leveraged funds--and I'm opposed to such a proposal. Such funds offer opportunities to investors, especially small investors who are not wealthy, to survive turbulent markets
In accordance with its regulatory responsibilities pursuant to Regulation NMS, FINRA is issuing a pre-quotation notice1 to advise that it plans to certify a new participant to begin using FINRA’s Alternative Display Facility (ADF) for quotation and trading of CTA and UTP listed securities on or after Monday, March 27, 2023, subject to regulatory approval and related announcements.
Once certified
The Consolidated Audit Trail (CAT) section of the 2023 Report on FINRA’s Examination and Risk Monitoring Program (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.
(a) Definitions
(1) For purposes of this Rule, the terms "CAT NMS Plan", "Industry Member", "Operating Committee", and "Participant" are defined as set forth in Rule 6810 (Consolidated Audit Trail—Definitions).
(2) "Subcommittee" means a subcommittee designated by the Operating Committee pursuant to the CAT NMS Plan.
(3) "CAT
(a) Filing of Application
(1) How to File
An Applicant for FINRA membership shall file its application with the Department in the manner prescribed by FINRA. An Applicant shall submit an application that includes:
(A) Form NMA;
(B) an original signed and notarized paper Form BD, with applicable schedules;
(C) an original FINRA-approved fingerprint card for each Associated Person who will be
This rule is no longer applicable. NASD Rule 1010 Series has been superseded by FINRA Rule 1000 Series. Please consult the appropriate FINRA Rule.
(a) Filing of Application
(1) How to File
An Applicant for FINRA membership shall file its application in the manner prescribed by FINRA with the Department of Member Regulation ("the
