Notice of Annual Meeting of FINRA Firms and Proxy
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).
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend FINRA Rule 12214(c) through (e) of the Code of Arbitration Procedure for Customer Disputes (“Customer Code”) and FINRA Rule 13214(c) through (e) of the Code of Arbitration Procedure for Industry Disputes (“Industry Code” and together
Summary
Recently, FINRA has received reports of member firms receiving telephone calls from persons claiming to work for FINRA in an attempt to deceive firms into revealing confidential information. FINRA is notifying firms that these individuals may be impersonators. Firms that receive telephone calls or emails purportedly from someone at FINRA requesting any type of information—confidential or
As part of a technology upgrade, FINRA has implemented improved interfaces to retrieve data and has established naming conventions that follow industry standards. This change will promote consistent column names, both in the file download feature and API access.
FINRA will change column names and the order in which the columns are displayed in the download files. Details are provided in the
FINRA Reminds Firms of Exercise Cut-Off Time for Options Expiring on the Friday After Thanksgiving
Market Makers must comply with the requirements of Rule 15c2-11 of the Securities Exchange Act of 1934 when initiating or resuming quotations in a quotation medium or making a publicly available determination pursuant to 15c2-11(a)(2) if a qualified IDQS, in an OTC security. Pursuant to FINRA Rule 6432, a firm including a Qualified IDQS must complete and submit a Form 211 to FINRA to demonstrate compliance. It is not necessary to file this application if an exemption applies.
FINRA Announces Nomination Process to Fill Upcoming Small Firm Vacancy on the National Adjudicatory Council
Pursuant to a Securities and Exchange Commission request, FINRA makes short sale trade data publicly available for OTC trades in exchange-listed securities reported to a FINRA Trade Reporting Facility (TRF) and FINRA’s Alternative Display Facility (ADF). FINRA makes two types of files available: (1) Daily Short Sale Volume Files and (2) Monthly Short Sale Transaction Files (collectively, the
The Plan provides for a market-wide limit up and limit down (LULD) mechanism to prevent trades in NMS stocks from occurring outside of specified price bands, coupled with trading pauses to accommodate more fundamental price moves. The Plan is designed, among other things, to protect investors and promote fair and orderly markets.