Events listed in [FINRA] Financial Industry Regulatory Authority
Information Notice – 3/15/23
ID 22288
The Financial Industry Regulatory Authority, FINRA, has published on its website an information notice to inform previous FINRA member firms or registered individuals which (a) have de-registered from FINRA within the past two years prior to March 15, 2022 and (b) missed the deadline to sign up for participation in the „Maintaining Qualifications Program (MQP) that they will get another chance for signing up. ...
Report From FINRA Board of Governors Meeting – March 2023
ID 22282
The Financial Industry Regulatory Authority, FINRA, has published a press release to inform of the outcome on its latest Board Of Governors meeting on March 9 and March 10, 2023. Besides discussing issues such as „FINRA’s recently completed Digital Experience Transformation, a multi-year program that integrated and simplified brokerage firms’ digital interactions with FINRA, facilitating more innovative, efficient and effective compliance programs“ or FINRA’ ...
SR-FINRA-2023-005
ID 22275
The Financial Industry Regulatory Authority, FINRA, has published on its website a proposal to revise FINRA Rule 1240 as regards the continuing education requirements of FINRA member firms. Specifically, FINRA seeks to modify this rule so as to „provide eligible individuals another opportunity to elect to participate in the Maintaining Qualifications Program (MQP)“ which is available to previously registered member firms to maintain their ...
Regulatory Notice 23-04
ID 22272
The Financial Industry Regulatory Authority (FINRA) has published a Regulatory Notice (23-4) to provide guidance to member firms as regards the treatment of deposits at the Silicon Valley Bank (SVB) and Signature Bank for purposes of meeting own funds and custody requirements and the withdrawal of funds from accounts held with the institutions. Specifically, FINRA states the following – as quoted: >- *All bank ...
SR-FINRA-2023-003
ID 22113
The Financial Industry Regulatory Authority, FINRA, has published on its website a proposal to revise several of its rules primarily for „clean-up“ purposes, that is for the removal of duplicate requirements in various regulations or redundant regulations. FINRA thereby proposes to modify or repeal (1) FINRA Rule 4590 relating to clock synchronization requirements of FINRA member firms for the recording of securities transactions. Such ...
Regulatory Notice 23-03
ID 22068
The Financial Industry Regulatory Authority (FINRA) has published a Regulatory Notice (23-03) to announce the 2023 level of the Governmental Accounting Standards Board (GASB) accounting support fee for FINRA member firms. The fee is collected quarterly whereby a „member firm’s assessment is based on its portion of the total par value of municipal securities transactions reported by all FINRA member firms to the Municipal ...
SR-FINRA-2023-004
ID 22067
The Financial Industry Regulatory Authority, FINRA, has published on its website a proposal to revise the „content outline and selection specifications for the research analyst exams (Series 86 and 87)“ which has been filed with the Securities and Exchange Commission (SEC) for approval and immediate effect. The proposal follows a recent joint review of the exam program by FINRA and a committee comprised of ...
SR-FINRA-2023-002
ID 21997
The Financial Industry Regulatory Authority (FINRA) has published on its website a proposal to „amend“ FINRA Rule 4210 to extend to October 25, 2023 the implementation date of margin requirements on the following security transactions: (a) To Be Announced (TBA) transactions; (b) Adjustable rate mortgage (ARM) transactions: (c) Specified Pool Transactions; and (d) Collateralized Mortgage Obligations (CMOs). The imposition of such obligations was originally ...
Information Notice 2/14/23
ID 21876
On February 14, 2023, the Financial Regulatory Authority (FINRA) issued an Information Notice in connection with transaction fees under section 31 of the Exchange Act. Specifically, FINRA is announcing a transaction fee decrease for securities traded on regulated exchanges and on over-the-counter markets as of February 27, 2023. In detail, the new rate is only $8.00 per million dollars in transactions instead of $22.90 ...
Regulatory Notice 23-02
ID 21497
The Financial Industry Regulatory Authority, FINRA, has published new Regulatory Notice 23-02 to announce final modifications to its Rule 2231 pertaining to customer account statements which includes requirements on the content, frequency, and form of account statements that must be sent to clients on a regular basis. Specifically, FINRA is amending this Rule to align it with a similar Rule applicable only to FINRA ...