In accordance with SEC Rule 17a-5(a)(2)(ii)-(iii), each broker/dealer registered pursuant to section 15 of the Act who clears transactions or carries customer accounts shall file Part II of Form X-17 A-5 within 17 business days after the end of the month. The fifth FOCUS filing is required for every broker or dealer who does not carry … Continue reading Monthly & Fifth FOCUS IIA Filings (Month ending 11/30/2016)
The Supplemental Inventory Schedule (SIS) must be filed by a firm that is required to file FOCUS Report Part II, FOCUS Report Part IIA or FOGS Report Part I, with inventory positions as of the end of the FOCUS or FOGS reporting period, unless the firm has (1) a minimum dollar net capital or liquid capital requirement of less than $100,000; or (2) inventory positions consisting only of money market mutual funds.6 A firm with inventory positions consisting only of money market mutual funds must affirmatively indicate through the eFOCUS system that no SIS filing is required for the reporting period.
FINRA assesses an annual support fee to adequately fund the annual budget of the Governmental Accounting Standards Board (GASB”). The fee is assessed on a quarterly basis and is based on member firm’s municipal securities trading volume for the prior quarter. http://finra.complinet.com/en/display/display_viewall.html?rbid=2403&element_id=4693&record_id=6093
Retrieve your Firm’s Final Renewal Statement Beginning January 3, 2017, firms can review Final Statements by logging onto E-Bill. Firms can also retrieve their renewal reports through Web CRD/IARD. You should review the statement for accuracy and keep a copy of the final statement and renewal reports for your records. The 2017 Renewal Program - … Continue reading FINRA Final Renewal Statements Available
State Securities Board personnel review all applications for the registration of dealers, agents, investment advisers, and investment adviser representatives to ensure that individuals and firms dealing with Texas investors meet certain minimum qualifications, are financially solvent, and of good business repute. Each initial Dealer and Investment Adviser applicant undergoes a stringent review process that includes … Continue reading Texas Certificates of Registration Available
FINRA's Annual Entitlement User Accounts Certification Process begins on January 9, 2017, and ends February 9, 2017. During this period, Super Account Administrators (SAAs) for firms with more than one user must certify that users at their firm who require access to applications in FINRA’s Entitlement Program have the appropriate entitlement privileges to perform their … Continue reading FINRA Entitlement User Account Certification Process
In accordance with FINRA Rule 4530(d), each member shall report to FINRA statistical and summary information regarding customer complaints in such detail as FINRA shall specify by the 15th day of the month following the calendar quarter in which customer complaints are received by the member. For the purposes of this paragraph, "customer" includes any … Continue reading FINRA Rule 4530/Customer Complaint Filing Due Dates (Q4 2016)
Reconcile or Pay your Final Statement Report in writing to FINRA any discrepancies you find on your Final Statement. FINRA must receive this by January 20, 2017. This is also the deadline date for which FINRA must receive payment if there is a balance due on your firm’s Final Renewal Statement.
MSRB Rule G-40 requires all municipal securities dealers and municipal advisors with an MSRB account to update their primary contact information or affirm that the information is correct within 17 business days after the end of each calendar year. In addition to this annual requirement, MSRB Rule G-40 requires municipal securities dealers and municipal advisors … Continue reading MSRB Update of Primary Contact Information (MSRB G-40)
In accordance with SEC Rule 17a-5(a)(2)(iii), each broker/dealer registered pursuant to section 15 of the Act who does not carry nor clear transactions nor carry customer accounts shall file Part IIA of Form X-17 A-5 within 17 business days after the end of each calendar quarter. http://taft.law.uc.edu/CCL/34ActRls/rule17a-5.html
In accordance with SEC Rule 17a-5(a)(2)(iii), each broker/dealer registered pursuant to section 15 of the Act who does not carry nor clear transactions nor carry customer accounts shall file Part IIA of Form X-17 A-5 within 17 business days after the end of each calendar quarter.
Firms are required to file Form Custody pursuant to SEA Rule 17a-5(a)(5).
Annual Verification Due As a reminder, Rule 4517 requires firms to complete an annual verification of their FCS contact information within the first 17 business days of each calendar year. Please login to FCS and perform your annual review. This year's deadline is Thursday, January 26, 2017. If you have questions on how to complete … Continue reading FINRA Contact System Due Date
SEC Rule 606 requires broker/dealers that route orders on behalf of customers to prepare quarterly reports that disclose the identity of the venues to which it routed orders for execution. The reports also will disclose the nature of the broker-dealers relationship with those venues, including the existence of any internalization or payment for order flow … Continue reading Disclosure of Order Routing Practices (SEC Rule 606) (Q4 2016)
MSRB Rule G-37 requires each broker , dealer or municipal securities dealer shall, by the last day of the month following the end of each calendar quarter send to the MSRB Form G-37 setting forth, in the prescribed format, the following information: (A) for contributions to officials of issuers (other than a contribution made by … Continue reading MSRB Rule G-37 Quarterly Reporting Requirement
FINRA Rule 4524 requires each member firm to file a Supplemental Statement of Income (“SSOI”) within 20 business days after the end of each calendar quarter via the FINRA Gateway. The SSOI is designed to provide FINRA with greater detail regarding firm’s revenue and expenses. http://finra.complinet.com/en/display/display.html?rbid=2403&record_id=14475&element_id=10588&highlight=4524#r14475
FINRA's Annual Entitlement User Accounts Certification Process begins on January 9, 2017, and ends February 9, 2017. During this period, Super Account Administrators (SAAs) for firms with more than one user must certify that users at their firm who require access to applications in FINRA’s Entitlement Program have the appropriate entitlement privileges to perform their … Continue reading Due: FINRA’s Annual Entitlement Account Certification Process
In accordance with SEC Rule 15c3-1, each broker/dealer registered pursuant to Section 15 of the Act must have evidence of the computation of net capital monthly. That computation should be completed and approved by the FINOP within 17 business days after the end of each month.
FINRA Rule 3270 prohibits any registered person from being an employee, independent contractor, sole proprietor, officer, director or partner of another person, or being compensated, or having the reasonable expectation of compensation, from another person as a result of any business activity outside the scope of the relationship with the member firm unless he or … Continue reading Outside Business Activity Review (FINRA Rule 3270)
In accordance with SEC Rule 17a-5(a)(2)(ii)-(iii), each broker/dealer registered pursuant to section 15 of the Act who clears transactions or carries customer accounts shall file Part II of Form X-17 A-5 within 17 business days after the end of the month. The fifth FOCUS filing is required for every broker or dealer who does not … Continue reading Monthly & Fifth’ FOCUS IIA Filings (Month ending 1/31/2017)
SEC Rule 17a-5(d) requires that FINRA member firms to file an Annual Audited Report electronically with FINRA through the firm Gateway and with the SEC (main office and regional office) via mail or overnight carrier not more than 60-calendar days after the date selected for their fiscal year end. The Annual Audit must also be … Continue reading Annual Audit Filing Due Date (Period Ending 12/31/2017)
Members of SIPC are required to pay an assessment of .0025 of SIPC Net Operating Revenue as defined by the SIPC By Laws Article VI. The SIPC 7 General Assessment Reconciliation is to be filed by all members of the Securities Investor Protection Corporation for the each fiscal year, due no later than 60 days … Continue reading SIPC Assessments (Year ending December 31, 2016 SIPC 7)
The firm should complete the review of the outside brokerage accounts of all associated persons for the prior month. http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=3728
In accordance with SEC Rule 15c3-1, each broker/dealer registered pursuant to Section 15 of the Act must have evidence of the computation of net capital monthly. That computation should be completed and approved by the FINOP within 17 business days after the end of each month.
In accordance with SEC Rule 17a-5(a)(2)(ii)-(iii), each broker/dealer registered pursuant to section 15 of the Act who clears transactions or carries customer accounts shall file Part II of Form X-17 A-5 within 17 business days after the end of the month. The fifth FOCUS filing is required for every broker or dealer who does not … Continue reading Monthly & Fifth’ FOCUS IIA Filings (Month ending 2/28/2017)
FINRA’s Diversity Summit provides a forum for business leaders, diversity practitioners and human resource professionals in the financial services industry to explore a variety of corporate practices, strategies and outreach efforts intended to leverage the benefits of building sustainable diversity and inclusion programs. The 2017 FINRA Diversity Summit took place on Wednesday, March 29 in … Continue reading FINRA Diversity Summit
FINRA Rule 3270 prohibits any registered person from being an employee, independent contractor, sole proprietor, officer, director or partner of another person, or being compensated, or having the reasonable expectation of compensation, from another person as a result of any business activity outside the scope of the relationship with the member firm unless he or … Continue reading Outside Business Activity Review (FINRA Rule 3270)
FINRA assesses an annual support fee to adequately fund the annual budget of the Governmental Accounting Standards Board (GASB”). The fee is assessed on a quarterly basis and is based on member firm’s municipal securities trading volume for the prior quarter. http://finra.complinet.com/en/display/display_viewall.html?rbid=2403&element_id=4693&record_id=6093
The Personnel Assessment and Gross Income Assessment (“GIA”) is designed to stabilize revenues used to support FINRA’s regulatory activities. The GIA is based on a member firm’s gross revenues and has a 7 tiered structure with a minimum of $1,200. The Personnel Assessment (“PA”) is based upon a three tiered rate structure: firms with 1 … Continue reading Personnel Assessment and Gross Income Assessment
FINRA member firms that have an obligation to report over-the-counter secondary market transactions in eligible equity and fixed income securities must submit their transaction reports to the appropriate FINRA facility and are required to complete a participant application agreement before they are given access to the facility. Facilities covered by the FINRA Transparency Services Participation … Continue reading FINRA Updates the Transparency Services Participant Agreement
The SEC has approved FINRA’s proposed rule change to adopt a new, consolidated rule governing accounts opened or established by associated persons at firms other than the firm at which they are employed. The new rule—FINRA Rule 3210 (Accounts At Other Broker-Dealers and Financial Institutions)—helps facilitate effective oversight of such accounts. New FINRA Rule 3210 … Continue reading Effective Date of FINRA Rule 3210
SEC Rule 17a-5(d) requires that FINRA member firms to file an Annual Audited Report electronically with FINRA through the firm Gateway and with the SEC (main office and regional office) via mail or overnight carrier not more than 60-calendar days after the date selected for their fiscal year end. The Annual Audit must also be … Continue reading Annual Audit Filing Due Date (Period Ending January 31, 2017)
The Securities and Exchange Commission (SEC) approved FINRA’s rule set for firms that meet the definition of “capital acquisition broker” (CAB) and that elect to be governed under this rule set. CABs are firms that engage in a limited range of activities, essentially advising companies and private equity funds on capital raising and corporate restructuring, … Continue reading SEC Approves FINRA’s Capital Acquisition Broker (CAB) Rules
The firm should complete the review of the outside brokerage accounts of all associated persons for the prior month. http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=3728
The December 2017 compliance deadline for FINRA’s margin collection requirements for TBAs and other Agency MBS is fast approaching. Join SIFMA for a Securitization Spotlight Session on April 19 to review how critical aspects of the rule are affecting business almost a year into the implementation process. The program will feature industry speakers discussing their successes … Continue reading FINRA Rule 4210 Implementation
Examine Key Issues Affecting the North American Capital Markets Join co-hosts, SIFMA and the Investment Industry Association of Canada (IIAC), at the 5th annual Canada-U.S. Securities Summit on April 20 in New York City. This half-day event convenes experts from Canada and the United States to discuss key economic, regulatory and political issues in the … Continue reading Canada-U.S. Securities Summit
Global Finance Forum - Capital Markets, Growth, and the Economy of tomorrow In conjunction with IMF-World Bank spring meetings, this open-press capital markets forum will feature armchair conversations with leading policymakers from the EU and U.S., and a panel discussion with event partners. The two-hour event will highlight important transatlantic economic issues impacting capital market participants. … Continue reading Global Finance Forum
Join the Operations & Technology Society for their first town hall webinar of 2017! All members of CAS, CAT, CMS and SOS are welcome.
FINRA will conduct a special meeting of large member firms on or about Friday, May 19, 2017, to elect one individual to fill a vacant Large Firm Governor seat on the FINRA Board of Governors (FINRA Board). A formal notice of the meeting, including the precise date, time and location, will be mailed to executive … Continue reading Special Election to Fill FINRA Large Firm Governor Vacancy
FINRA Rule 4524 requires each member firm to file a Supplemental Statement of Income (“SSOI”) within 20 business days after the end of each calendar quarter via the FINRA Gateway. The SSOI is designed to provide FINRA with greater detail regarding firm’s revenue and expenses. http://finra.complinet.com/en/display/display.html?rbid=2403&record_id=14475&element_id=10588&highlight=4524#r14475
In accordance with SEC Rule 17a-5(a)(2)(iii), each broker/dealer registered pursuant to section 15 of the Act who does not carry nor clear transactions nor carry customer accounts shall file Part IIA of Form X-17 A-5 within 17 business days after the end of each calendar quarter.
SIFMA Equity Market Structure Conference is a one-stop resource for updates from the industry’s leading experts on today’s markets and the ever-evolving regulatory framework that guides them. Join equity market structure leaders in New York to discuss recommendations and actionable changes to enhance fairness, stability and transparency in the U.S. stock market.
SIFMA’s Fixed Income Market Structure Seminar brings together market participants and policymakers to discuss the latest regulatory and market developments in the fixed income markets. This half-day discussion will address the key questions and issues emerging from significant changes in market structure, including: Investment Grade New Issue Process: How the process really works - from … Continue reading SIFMA Fixed Income Market Structure Seminar
FINRA Rule 3270 prohibits any registered person from being an employee, independent contractor, sole proprietor, officer, director or partner of another person, or being compensated, or having the reasonable expectation of compensation, from another person as a result of any business activity outside the scope of the relationship with the member firm unless he or … Continue reading Outside Business Activity Review (FINRA Rule 3270)
MSRB Rule G-37 requires each broker, dealer or municipal securities dealer shall, by the last day of the month following the end of each calendar quarter send to the MSRB Form G-37 setting forth, in the prescribed format, the following information: (A) for contributions to officials of issuers (other than a contribution made by a … Continue reading MSRB Rule G-37 Quarterly Reporting Deadline
FINRA Rule 3270 prohibits any registered person from being an employee, independent contractor, sole proprietor, officer, director or partner of another person, or being compensated, or having the reasonable expectation of compensation, from another person as a result of any business activity outside the scope of the relationship with the member firm unless he or … Continue reading Outside Business Activity Review (FINRA Rule 3270)
Proposed Rule Change to Adopt Consolidated FINRA Registration Rules, Restructure the Representative-Level Qualification Examination Program and Amend the Continuing Education Requirements Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to adopt with amendments the NASD and Incorporated NYSE rules relating to qualification … Continue reading FINRA to Restructure Continuing Education Requirements and Qualification Exams
SEC Rule 17a-5(d) requires that FINRA member firms to file an Annual Audited Report electronically with FINRA through the firm Gateway and with the SEC (main office and regional office) via mail or overnight carrier not more than 60-calendar days after the date selected for their fiscal year end. The Annual Audit must also be … Continue reading Annual Audit Filing Due Date ( Period Ending 02/28/2017)
On May 2, SIFMA invites you for their second Regional Senior Investor Protection Workshop in Philadelphia, PA. Following the success of their first event last fall, this interactive program provides attendees with the opportunity to take a deeper-dive into the causes of cognitive decline, learn how to identify decline and exploitation, and learn practical ways … Continue reading SIFMA Senior Investor Protection Regional Workshop
FINRA is asking for comments regarding its recently announced new initiative to evaluate various aspects of its operations and programs to identify opportunities to more effectively further its mission. As one of the first steps of this initiative, this Notice solicits comment from all interested parties on FINRA’s current engagement programs. In connection with separate … Continue reading FINRA Requests Comments to improve Engagement Programs
Whether your focus in Operations is Leadership Management, Information Technology, Risk Management, Legal and Compliance, or Clearance and Settlement, SIFMA's Operations Conference and Exhibition delivers a comprehensive program tailored to the critical role you perform.
Designed for compliance and legal professionals at FINRA member firms, these events offer an opportunity to hear about current regulatory issues while engaging in a direct dialogue with FINRA District Office staff. For more information including discussion topics, see the individual program descriptions below. Date Event Location & Venue Fees Registration May 11, 2017 9 … Continue reading FINRA District 6 Dallas – District Compliance Events
Registration is now open for the 2017 FINRA Annual Conference. Join leaders of firms of all sizes, securities attorneys, government officials, FINRA senior leaders and representatives from other securities regulators for a three-day event dedicated to the most important issues affecting the securities industry. Reduced rates are available for the first 100 in-person registrants before … Continue reading 2017 FINRA Annual Conference
Designed for compliance and legal professionals at FINRA member firms, these events offer an opportunity to hear about current regulatory issues while engaging in a direct dialogue with FINRA District Office staff. For more information including discussion topics, see the individual program description below. Date Event Location & Venue Fees Registration May 17, 2017 9 … Continue reading District 5 New Orleans – District Compliance Events
The firm should complete the review of the outside brokerage accounts of all associated persons for the prior month. http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=3728
This class is designed for staff at broker-dealer firms and/or service providers that are new to reporting Disclosure information in Web CRD or those who want to receive refresher training and reporting tips. The training is an in-depth session focusing on interpreting and complying with disclosure reporting requirements on individual and organizational form filings. Pertinent … Continue reading FINRA Registration and Disclosure Boot Camp
The updated Financial Industry Regulatory Authority (“FINRA”) Private Placement Filer Form required by member firms to file offering documents and information pursuant to FINRA Rules 5122 (Private Placements of Securities Issued by Members) and 5123 (Private Placements of Securities) (Filer Form) will be required to be utilized on the FINRA Firm Gateway beginning on May … Continue reading Effective Date for Use of Updated FINRA Private Placement Filer Form
In an attempt to collect more information on private placement activity, the Financial Industry Regulatory Authority (“FINRA”) has updated the private placement filer form that member firms must use to file offering documents and information pursuant to FINRA Rules 5122 (Private Placements of Securities Issued by Members) and 5123 (Private Placements of Securities) (the "Filer … Continue reading FINRA Updates Private Placement Filer Form
In accordance with SEC Rule 15c3-1, each broker/dealer registered pursuant to Section 15 of the Act must have evidence of the computation of net capital monthly. That computation should be completed and approved by the FINOP within 17 business days after the end of each month.
In accordance with SEC Rule 17a-5(a)(2)(ii)-(iii), each broker/dealer registered pursuant to section 15 of the Act who clears transactions or carries customer accounts shall file Part II of Form X-17 A-5 within 17 business days after the end of the month. The fifth FOCUS filing is required for every broker or dealer who does not carry … Continue reading Monthly & Fifth’ FOCUS IIA Filings (Month ending 4/30/2017)
FINRA Rule 3270 prohibits any registered person from being an employee, independent contractor, sole proprietor, officer, director or partner of another person, or being compensated, or having the reasonable expectation of compensation, from another person as a result of any business activity outside the scope of the relationship with the member firm unless he or … Continue reading Outside Business Activity Review (FINRA Rule 3270)
FINRA Rule 3270 prohibits any registered person from being an employee, independent contractor, sole proprietor, officer, director or partner of another person, or being compensated, or having the reasonable expectation of compensation, from another person as a result of any business activity outside the scope of the relationship with the member firm unless he or … Continue reading Outside Business Activity Review (FINRA Rule 3270)
The ability of small and large businesses to raise capital efficiently is critical to job creation and economic growth. Broker-dealers play a vital role in helping businesses raise capital through the securities markets, and as a self-regulatory organization (SRO) for broker-dealers, FINRA has a variety of rules, operations and administrative processes that address their capitalraising … Continue reading FINRA Requests Comments on Rules Impacting Capital Formation
FINRA seeks comment on proposed amendments to FINRA Rule 5110 (Corporate Financing Rule – Underwriting Terms and Arrangements) to make substantive, organizational and terminology changes to the rule. The proposal is intended to modernize Rule 5110 and to simplify and clarify its provisions. The proposal would retain the primary principle of the rule that no … Continue reading FINRA Requests Comment on FINRA Corporate Financing Rule
FINRA seeks comment on proposed amendments to FINRA Rule 2241 (Research Analysts and Research Reports) and FINRA Rule 2242 (Debt Research Analysts and Debt Research Reports) to create a limited safe harbor for specified brief, written analysis distributed to eligible institutional investors that comes from sales and trading or principal trading personnel but that may … Continue reading FINRA Requests Comment on Equity and Debt Research Rules
SEC Rule 17a-5(d) requires that FINRA member firms to file an Annual Audited Report electronically with FINRA through the firm Gateway and with the SEC (main office and regional office) via mail or overnight carrier not more than 60-calendar days after the date selected for their fiscal year end. The Annual Audit must also be … Continue reading Annual Audit Filing Due Date (Period Ending 03/31/2017)
Designed for compliance and legal professionals at FINRA member firms, these events offer an opportunity to hear about current regulatory issues while engaging in a direct dialogue with FINRA District Office staff. For more information including discussion topics, see the individual program descriptions below. Date Event Location & Venue Fees Registration May 31, 2017 9 … Continue reading FINRA District 7 Atlanta – District Compliance Events
Designed for compliance and legal professionals at FINRA member firms, these events offer an opportunity to hear about current regulatory issues while engaging in a direct dialogue with FINRA District Office staff. For more information including discussion topics, see the individual program descriptions below. June 1, 2017 9 a.m. – 12 p.m. District Compliance Meeting … Continue reading District Compliance Meeting: Charlotte, NC – District 7 (Atlanta)
FINRA's 2017 Risk Control Assessment (RCA) survey has been launched. Each firm's executive representative and designated assistant should have received an email linking to their firm's unique RCA survey. The RCA is an important part of FINRA's risk-based surveillance and examination program. FINRA uses it to better understand the risks associated with the business activities … Continue reading 2017 FINRA Risk Control Assessment ( RCA)
SIFMA's FinTech Conference will bring together innovators and industry leaders to discuss the latest developments in robo advising, robotics, artificial intelligence, machine learning and blockchain experiments – and how these developments are changing the way firms understand and interact with their customers, manage risk, and run their operations. The impact of FinTech on the securities … Continue reading SIFMA FINTECH Conference
The SEC requests comment on FINRA's proposal to amend FINRA Rules 12402 and 12403 of the Code of Arbitration Procedure for Customer Disputes and FINRA Rule 13403 of the Code of Arbitration Procedure for Industry Disputes to provide that the Director of FINRA's Office of Dispute Resolution will send the list or lists generated by … Continue reading SEC Code of Arbitration Comment Period
FINRA's Compliance Boot Camps provide a broad view of essential compliance concepts. Through a combination of self-study and classroom training, participants gain valuable insights on compliance activities for immediate application to the workplace. Half-Day Compliance Boot Camps Half-day Compliance Boot Camps focus on basic regulatory requirements and compliance responsibilities. Participants are required to complete approximately … Continue reading FINRA Boot Camp: Chicago, IL – District 8 (Chicago)
Designed for compliance and legal professionals at FINRA member firms, these District Compliance Meetings offer an opportunity to hear about current regulatory issues while engaging in a direct dialogue with FINRA District Office staff. For more information including discussion topics, see the individual program descriptions below. Topics: Examination Priorities Common Examination Findings Regulatory Issues and Effective … Continue reading District Compliance Meeting – District 8 (Madison WI)
Designed for compliance and legal professionals at FINRA member firms, these District Compliance Meetings offer an opportunity to hear about current regulatory issues while engaging in a direct dialogue with FINRA District Office staff. For more information including discussion topics, see the individual program descriptions below. Topics: Examination Priorities Common Examination Findings Regulatory Issues and … Continue reading District Compliance Meeting: Tarrytown, NY – District 9b ( Woodbridge)
FINRA Half Day Compliance Boot Camp Half-day Compliance Boot Camps focus on basic regulatory requirements and compliance responsibilities. Participants are required to complete approximately three hours of assigned pre-course readings and online coursework prior to attending the session. Pre-course work is assigned and distributed approximately one week before the session. This course is designed for … Continue reading FINRA Compliance Boot Camp – San Francisco
FINRA's Transparency Services Department is hosting the third and final installment in its TRACE Reporting of Transactions in U.S. Treasury securities phone-in workshop series. During this one, FINRA staff review relevant rules and regulations, and discuss testing and other relevant technical information. Questions from participants will be accepted in advance or during the presentation via … Continue reading Phone-In Workshop: TRACE Reporting of Transactions in U.S. Treasury Securities
On June 9th , the fiduciary rule's amended definition of fiduciary advice will first apply and the BIC Exemption and Principal Transactions Exemption will become available to fiduciary advisers. At the outset, however, and for a transition period extending until January 1, 2018, fewer conditions will apply to financial institutions and advisers that seek to … Continue reading DOL’s fiduciary rule’s definitions applied as of June 9th
The SEC requests comment on FINRA's proposal to amend FINRA Rule 7730 (Trade Reporting and Compliance Engine (TRACE)) to reduce the delay period applicable to the Historic Corporate Bond Data Set, the Historic Agency Data Set, and Rule 144A transactions in corresponding securities from 18 months to six months. The comment period expires June 12, … Continue reading SEC Comment Period for FINRA Rule 7730
During this free webinar, staff of the MSRB and the U.S. Securities and Exchange Commission will review the standards of professional qualification for municipal advisors and discuss the enrollment process for taking the MSRB's Municipal Advisor Representative Qualification Examination (Series 50). For municipal advisor firms that have yet to enroll an associated person to take … Continue reading MSRB Webinar: Municipal Advisor Representative Qualification Examination (Series 50 Exam)
The firm should complete the review of the outside brokerage accounts of all associated persons for the prior month. http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=3728
FINRA recently announced a new initiative to evaluate various aspects of its operations and programs to identify opportunities to more effectively further its mission. As one of the first steps of this initiative, this Notice solicits comment from all interested parties on FINRA’s current engagement programs. In connection with separate reviews being conducted under this … Continue reading FINRA Requests Comment on Potential Enhancements to Certain Engagement Programs
FINRA's Compliance Boot Camps provide a broad view of essential compliance concepts. Through a combination of self-study and classroom training, participants gain valuable insights on compliance activities for immediate application to the workplace. Half-Day Compliance Boot Camps Half-day Compliance Boot Camps focus on basic regulatory requirements and compliance responsibilities. Participants are required to complete approximately … Continue reading FINRA Boot Camp: Philadelphia, PA – District 9A ( Philadelphia)
FINRA's Compliance Boot Camps provide a broad view of essential compliance concepts. Through a combination of self-study and classroom training, participants gain valuable insights on compliance activities for immediate application to the workplace. Half-Day Compliance Boot Camps Half-day Compliance Boot Camps focus on basic regulatory requirements and compliance responsibilities. Participants are required to complete approximately … Continue reading FINRA Boot Camp: Stamford, CT – District 11 (Boston)
Designed for compliance and legal professionals at FINRA member firms, these District Compliance Meetings offer an opportunity to hear about current regulatory issues while engaging in a direct dialogue with FINRA District Office staff. For more information including discussion topics, see the individual program descriptions below. Topics: Examination Priorities Common Examination Findings Regulatory Issues and … Continue reading District Compliance Meeting – Columbus, OH – District 8 (Chicago)
June 20, 2017 9 a.m. – 1:30 p.m. Half-Day Compliance Boot Camp FINRA District Office 5200 Town Center Circle Suite 200 Boca Raton, FL 33486 (561) 443-8000 $195 View More Information and Register Topics: Effective Practices for Working With Senior Investors Cybersecurity
There are three ways to register: online, fax, or mail. Online registration is for credit card transactions only. Dates Fee Location June 21 - 22 (8 a.m. to 5 p.m., ET, both days) Register Now $500* The Huntington Investment Company The Huntington Center 41 South High Street Columbus, OH 43287 September 18 - 19 (8 … Continue reading FINRA Foundations of Web CRD/IARD Training
FINRA's Registration and Disclosure (RAD) Training team offers several training solutions designed for those at broker-dealer or joint broker-dealer/investment adviser firms. Training types include: Foundations of Web CRD/IARD Training (next session offered June 21-22, in Columbus, OH) Custom Web CRD Training – contact the RAD Training Team to inquire about a training session that is … Continue reading FINRA’s RAD Training Offerings
During this free webinar, Municipal Securities Rulemaking Board (MSRB) staff will discuss the recently published guidance on the application of MSRB rules to solicitor municipal advisors. Under the MSRB's mandate to protect municipal entities and obligated persons, the MSRB has developed a core regulatory framework for all municipal advisors. The solicitor guidance comprehensively summarizes that … Continue reading MSRB Webinar: Municipal Advisor Solicitor Guidance
In accordance with SEC Rule 15c3-1, each broker/dealer registered pursuant to Section 15 of the Act must have evidence of the computation of net capital monthly. That computation should be completed and approved by the FINOP within 17 business days after the end of each month.
In accordance with SEC Rule 17a-5(a)(2)(ii)-(iii), each broker/dealer registered pursuant to section 15 of the Act who clears transactions or carries customer accounts shall file Part II of Form X-17 A-5 within 17 business days after the end of the month. The fifth FOCUS filing is required for every broker or dealer who does not carry … Continue reading Monthly & Fifth’ FOCUS IIA Filings (Month ending 5/31/2017)
Designed for compliance and legal professionals at FINRA member firms, these District Compliance Meetings offer an opportunity to hear about current regulatory issues while engaging in a direct dialogue with FINRA District Office staff. For more information including discussion topics, see the individual program descriptions below. Topics: Examination Priorities Common Examination Findings Regulatory Issues and … Continue reading District Compliance Meeting: Rochester NY – District 9b (Woodbridge)
Designed for compliance and legal professionals, these events offer an opportunity to hear about current regulatory issues while engaging in a direct dialogue with FINRA District Office staff. For more information including discussion topics, see the individual program descriptions below. June 28, 2017 9 a.m. – 10:30 a.m. District Compliance Meeting United Federation of Teachers … Continue reading FINRA District Compliance Meeting: New York, NY – District 10 (New York)
SEC Rule 17a-5(d) requires that FINRA member firms to file an Annual Audited Report electronically with FINRA through the firm Gateway and with the SEC (main office and regional office) via mail or overnight carrier not more than 60-calendar days after the date selected for their fiscal year end. The Annual Audit must also be … Continue reading Annual Audit Filing Due Date (Period Ending 04/30/2017)
The review centers on rules governing broker-dealer employees’ business and securities activities carried out away from their firm – activities that are outside the regular course or scope of their employment with the firm. These rules were designed to protect investors from potentially problematic or risky activities that are unknown to the firm but could … Continue reading FINRA Reviews Outside Business Activities and Private Securities Transactions
The Financial Industry Regulatory Authority (“FINRA”) announced in Regulatory Notice 17-20 that it has identified Rules 3270 and 3280, which govern outside business activities and personal securities transactions for review. The rules govern firm employees’ business and securities activities that are carried out away from their firm – activities that are outside the regular course or … Continue reading Comment Period Ends on Review of Rules on Outside Business Activities and Personal Securities Transactions
Designed for compliance and legal professionals at FINRA member firms, these District Compliance Meetings offer an opportunity to hear about current regulatory issues while engaging in a direct dialogue with FINRA District Office staff. For more information including discussion topics, see the individual program descriptions below. Topics: Examination Priorities Common Examination Findings Regulatory Issues and … Continue reading District Compliance Meeting: Louisville, KY – District 8 ( Chicago)
FINRA Rule 3270 prohibits any registered person from being an employee, independent contractor, sole proprietor, officer, director or partner of another person, or being compensated, or having the reasonable expectation of compensation, from another person as a result of any business activity outside the scope of the relationship with the member firm unless he or … Continue reading Outside Business Activities Review
FINRA Rule 1250 requires all covered registered persons (any person registered with a member who has direct contact with customers in the conduct of the member's securities sales, trading and investment banking activities, any person registered as an operations professional or research analyst, and to the immediate supervisors of such person) to participate in the … Continue reading Review and update Firm Element Continuing Education Plan
FINRA assesses an annual support fee to adequately fund the annual budget of the Governmental Accounting Standards Board (GASB”). The fee is assessed on a quarterly basis and is based on member firm’s municipal securities trading volume for the prior quarter. http://finra.complinet.com/en/display/display_viewall.html?rbid=2403&element_id=4693&record_id=6093