Outside Brokerage Account Review (FINRA Rule 3270)
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
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FINRA Registration and Disclosure Boot Camp
FINRA 9509 Key West Avenue, Rockville, MD, United StatesThis 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
Effective Date for Use of Updated FINRA Private Placement Filer Form
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
FINRA Updates 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
Net Capital Computation (Month ending 04/30/2017)
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.
Monthly & Fifth’ FOCUS IIA Filings (Month ending 4/30/2017)
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)
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)
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)
FINRA Requests Comments on Rules Impacting Capital Formation
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 Requests Comment on FINRA Corporate Financing Rule
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 Requests Comment on Equity and Debt Research Rules
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
Annual Audit Filing Due Date (Period Ending 03/31/2017)
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 03/31/2017)
FINRA District 7 Atlanta – District Compliance Events
Charlotte Convention Center 501 S. College Street, Charlotte, NC, United StatesDesigned 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
District Compliance Meeting: Charlotte, NC – District 7 (Atlanta)
Charles Schwab Conference Center 211 Main Street, San Francisco, CA, United StatesDesigned 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)
2017 FINRA Risk Control Assessment ( RCA)
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 FINTECH Conference
SIFMA Conference Center New York City, NY, United StatesSIFMA'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
SEC Code of Arbitration Comment Period
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 Boot Camp: Chicago, IL – District 8 (Chicago)
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)
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 Effective … Continue reading District Compliance Meeting – District 8 (Madison WI)
District Compliance Meeting: Tarrytown, NY – District 9b ( Woodbridge)
FINRA Woodbridge District 9bDesigned 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 Compliance Boot Camp – San Francisco
FINRA San Francisco district office 120 Kearney Street, Suite 2100, San FranciscoFINRA 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
Phone-In Workshop: TRACE Reporting of Transactions in U.S. Treasury Securities
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
DOL’s fiduciary rule’s definitions applied as of June 9th
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
SEC Comment Period for FINRA Rule 7730
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
MSRB Webinar: Municipal Advisor Representative Qualification Examination (Series 50 Exam)
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)
Outside Brokerage Account Review (FINRA Rule 3270)
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 Requests Comment on Potential Enhancements to Certain Engagement Programs
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 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: Philadelphia, PA – District 9A ( Philadelphia)
FINRA Boot Camp: Stamford, CT – District 11 (Boston)
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)
District Compliance Meeting – Columbus, OH – 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 … Continue reading District Compliance Meeting – Columbus, OH – District 8 (Chicago)
District 7- Boca Raton, Florida – Compliance Boot Camp
FINRA Boca Raton District Office 5200 Town Center Circle Suite 200, Boca Raton, FL, United StatesJune 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
FINRA Foundations of Web CRD/IARD Training
The Huntington Investment Company 41 South High Street, Columbus, OH 43287, OH, United StatesThere 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 RAD Training Offerings
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
MSRB Webinar: Municipal Advisor Solicitor Guidance
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
Net Capital Computation (Month ending 05/31/2017)
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.
Monthly & Fifth’ FOCUS IIA Filings (Month ending 5/31/2017)
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)
District Compliance Meeting: Rochester NY – District 9b (Woodbridge)
FINRA 9509 Key West Avenue, Rockville, MD, United StatesDesigned 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)
FINRA District Compliance Meeting: New York, NY – District 10 (New York)
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)
Annual Audit Filing Due Date (Period Ending 04/30/2017)
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 04/30/2017)
FINRA Reviews Outside Business Activities and Private Securities Transactions
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
Comment Period Ends on Review of Rules on Outside Business Activities and Personal 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
District Compliance Meeting: Louisville, KY – 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 … Continue reading District Compliance Meeting: Louisville, KY – District 8 ( Chicago)
Outside Business Activities Review
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
Review and update Firm Element Continuing Education Plan
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
Quarterly GASB Accounting Support Fee
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
Monday before Independence Day – 1:00 P.M. early close
FINRA operates Monday - Friday during regular business hours. FINRA is closed whenever the markets are closed. In addition, FINRA and financial markets may close early the day before a holiday. http://www.finra.org/AboutFINRA/HolidaySchedule
FINRA Blockchain Symposium
Park Central Hotel 870 Seventh Avenue, 56 Street, New York City, NY, United StatesDistributed Ledger Technology (DLT)—also known as blockchain technology or distributed database technology—has attracted significant interest and funding in the financial services industry in recent years. FINRA's Blockchain Symposium, which takes place on July 13 in New York City, is designed to bring together regulators and industry leaders to discuss the use of blockchain and related … Continue reading FINRA Blockchain Symposium
Outside Brokerage Account Review (FINRA Rule 3270)
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
FINRA360 Comment Period Deadline
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 capital-raising … Continue reading FINRA360 Comment Period Deadline
FINRA Rule 5110 Comment Period Deadline
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 Rule 5110 Comment Period Deadline
FINRA Rule 2241 & 2242 Comment Period Deadline
) 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 … Continue reading FINRA Rule 2241 & 2242 Comment Period Deadline
FINRA Extends Comment Period for Capital Financing Notices
In response to requests for an extension, FINRA has extended the comment period for Regulatory Notices 17-14, 17-15 and 17-16 to July 14, 2017. In addition, FINRA updated Attachments A and B related to Regulatory Notice 17-15 to make a technical correction to subsection (g) of the rule text.
FINRA Rule 4530/Customer Complaint Filing Due Dates (Q2 2017)
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 (Q2 2017)
FINRA Institute at Wharton CRCP Program
The Wharton School of the University of Pennsylvania. University of Pennsylvania, Philadelphia, PA, United StatesThe FINRA Institute at Wharton's Certified Regulatory and Compliance ProfessionalTM (CRCPTM) Program provides a comprehensive core of knowledge on securities regulation and the day-to-day application of those rules and regulations. The program comprises two week-long residential courses that are delivered at the Wharton School, University of Pennsylvania campus in Philadelphia. Participants benefit from instruction delivered … Continue reading FINRA Institute at Wharton CRCP Program
2017 National Compliance Outreach Program for Broker-Dealers
Charlotte Convention Center 501 S. College Street, Charlotte, NC, United StatesRegistration for the 2017 National Compliance Outreach Programs for Broker-Dealers, which is hosted by FINRA and the SEC, is now open. This program provides a forum for regulators and industry professionals to share strong compliance practices and promote the exchange of ideas to develop an effective compliance structure. Topics include: Cybersecurity Insights from SEC and … Continue reading 2017 National Compliance Outreach Program for Broker-Dealers
FINRA Boot Camp: Birmingham AL – District 5 (New Orleans)
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. 5 – New Orleans July 27, 2017 1 p.m. – 5 p.m. … Continue reading FINRA Boot Camp: Birmingham AL – District 5 (New Orleans)
Outside Business Activities Review
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
Entitlement Password Requirements
FINRA has updated its password requirements for users of systems that participate in FINRA's Entitlement Program. No immediate action is required at this time by users as existing passwords will remain valid; however, any password changed or created on or after July 29, 2017, must adhere to the updated password requirements.
Entitlement Password Requirements
FINRA has updated its password requirements for users of systems that participate in FINRA's Entitlement Program. No immediate action is required at this time by users as existing passwords will remain valid; however, any password changed or created on or after July 29, 2017, must adhere to the updated password requirements
SIPC Assessments – SIPC 6 (Semi-Annual Filing)
Members of SIPC are required to pay their assessment on SIPC Net Operating Revenue as defined by the SIPC By Laws Article VI. The SIPC 6 General Assessment is to be filed by all members of the Securities Investor Protection Corporation for the first half of each fiscal year, due no later than 30 days … Continue reading SIPC Assessments – SIPC 6 (Semi-Annual Filing)
Annual Audit Filing Due Date (Period Ending 05/31/2017)
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 05/31/2017)
Quarterly SSOI Supplemental FOCUS Information (Quarter ending 06/30/2017)
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
MSRB Rule G-37 Quarterly Reporting Deadline
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 Boot Camp: Woodbridge, NJ – District 9b
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. August 10, 2017 9:30 a.m. – 1:30 p.m. Half-Day Compliance Boot … Continue reading FINRA Boot Camp: Woodbridge, NJ – District 9b
Military Spouses Receive Fellowships
The FINRA Investor Education Foundation has awarded fellowships to 50 military spouses seeking to earn their AFC® (Accredited Financial Counselor®) designation to provide military service members and their families one-on-one and group financial counseling and education. Through the 2017 Military Spouse Fellowship Program, Fellows undergo rigorous training, coursework and experiential hours to gain hands-on experience … Continue reading Military Spouses Receive Fellowships
Outside Brokerage Account Review (FINRA Rule 3270)
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 Pay-to-Play Rules Become Effective
FINRA "pay-to-play" Rules 2030 (Engaging in Distribution and Solicitation Activities with Government Entities) and 4580 (Books and Records Requirements for Government Distribution and Solicitation Activities) were established to regulate the activities of member firms that engage in distribution or solicitation activities for compensation with government entities on behalf of investment advisers. These rules become effective August … Continue reading FINRA Pay-to-Play Rules Become Effective
SEC Approves New FINRA Pay-to-Play Rules
The Securities and Exchange Commission (SEC) approved FINRA Rule 2030 (Engaging in Distribution and Solicitation Activities with Government Entities) and 4580 (Books and Records Requirements for Government Distribution and Solicitation Activities) to establish pay-to-play and related rules regulating the activities of member firms of the Financial Industry Regulatory Authority (FINRA) that engage in distribution or solicitation … Continue reading SEC Approves New FINRA Pay-to-Play Rules
FINRA Annual Meeting of Firms
FINRA Washington, D.C. 1735 K Street, NW, Washington, D.C.FINRA will conduct its annual meeting of firms on Tuesday, August 22, 2017, at 10 a.m. Eastern Time in the FINRA Visitors Center, 1735 K Street, NW, in Washington, D.C. The purpose of the meeting is to elect individuals to fill one small firm and one large firm seat on the FINRA Board of Governors … Continue reading FINRA Annual Meeting of Firms
Monthly & Fifth’ FOCUS IIA Filings (Month ending 07/31/2017)
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 07/31/2017)
Net Capital Computation (Month ending 07/31/2017)
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.
MSRB: International Municipal Lawyer’s Association’s Municipal Finance Webinar
International Municipal Lawyers Association's Municipal Finance Webinar August 23, 2017 1:00 PM - 2:00 PM ET MSRB Assistant General Counsel Saliha Olgun will speak about recent developments in municipal securities law during this IMLA webinar. Register
District Compliance Meeting
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. August 24, 2017 9 a.m. – 12 p.m. District Compliance Meeting … Continue reading District Compliance Meeting
Outside Business Activities Review
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 Transparency Services Forms Updates
Effective August 28, 2017, FINRA will make several changes to the TRACE New Issue Form, TRACE Order Form and FINRA Participation Agreement. On that date, the name of the TRACE New Issue Form, which firms use to submit securities to FINRA for inclusion in the TRACE or ORF reporting facilities, will change to the FINRA … Continue reading FINRA Transparency Services Forms Updates
Annual Audit Filing Due Date (Period Ending 06/30/2017)
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 06/30/2017)
FINRA Boot Camp: Milwaukee, WI – District 8 (Chicago)
8 – Chicago August 29, 2017 12 p.m. - 4:30 p.m. The Pfister Hotel 424 E. Wisconsin Ave. Milwaukee, WI 53202 (414) 273-8222 Variable Annuities Effective Practices for Working With Senior Investors $195 Register FINRA's Compliance Boot Camps provide a broad view of essential compliance concepts. Through a combination of self-study and classroom training, participants … Continue reading FINRA Boot Camp: Milwaukee, WI – District 8 (Chicago)
FINRA Boot Camp: Omaha, NE – District 4 (Kansas City)
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: Omaha, NE – District 4 (Kansas City)
FINRA Holiday: Friday before Labor Day ( 3:00 p.m. early close)
FINRA operates Monday - Friday during regular business hours. FINRA is closed whenever the markets are closed. In addition, FINRA and financial markets may close early the day before a holiday. http://www.finra.org/AboutFINRA/HolidaySchedule
FINRA and SIPC Streamline Reporting Process
The Securities Investor Protection Corporation (SIPC) and the Financial Industry Regulatory Authority (FINRA) have announced a services agreement designed to ease reporting burdens and compliance costs for member firms. The new, simplified filing process will also reduce inconsistent or incomplete filing of annual audited financial statements and supplementary reports. Effective Sept. 1, firms that currently … Continue reading FINRA and SIPC Streamline Reporting Process
Compliance Date for T+2 Settlement Cycle for Securities Transactions
The SEC adopted an amendment to shorten the standard settlement cycle for most broker-dealer securities transactions by one business day ("T+2"). Currently, the standard settlement cycle for these transactions is three business days, known as T+3. The amendment to Rule 15c6-1(a) shortens the settlement cycle to two business days. The compliance date for broker-dealers … Continue reading Compliance Date for T+2 Settlement Cycle for Securities Transactions
SEC Adopts T+2 Settlement Cycle for Securities Transactions
The Securities and Exchange Commission ("SEC") has adopted an amendment to shorten the standard settlement cycle for most broker-dealer securities transactions by one business day ("T+2"). Currently, the standard settlement cycle for these transactions is three business days, known as T+3. The amendment to Rule 15c6-1(a) shortens the settlement cycle to two business days. The … Continue reading SEC Adopts T+2 Settlement Cycle for Securities Transactions
MSRB Reminds Municipal Advisors that the Series 50 Exam Deadline Is September 12, 2017
The Municipal Securities Rulemaking Board (MSRB) is issuing this notice to remind municipal advisor firms of their obligation to ensure that every individual associated with the municipal advisor firm is qualified in accordance with the rules of the MSRB. Pursuant to MSRB Rule G-3, an associated person of a municipal advisor firm who engages in … Continue reading MSRB Reminds Municipal Advisors that the Series 50 Exam Deadline Is September 12, 2017
2017 Fixed Income Conference
The Fairmont Dallas Hotel 1717 N. Akard Street, Dallas, TX, United StatesFINRA’s Fixed Income Conference focuses on current market impacts on fixed income, and how regulators and firms are responding. In-person Registration Live Broadcast Registration Location The Fairmont Dallas Hotel 1717 N. Akard Street Dallas, TX 75201 (214) 720-2020 Accommodations A room block is available at the Fairmont Dallas Hotel at the special rate of $189 … Continue reading 2017 Fixed Income Conference
District Compliance Meeting – District 4 Kansas City
West Des Moines Marriot 1250 Jordan Creek Parkway, West Des Moines, IA, United StatesDesigned 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. Thursday, September 14, 2017 9 a.m. – 12 p.m. District Compliance … Continue reading District Compliance Meeting – District 4 Kansas City
Outside Brokerage Account Review (FINRA Rule 3270)
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
Commitment to Compliance Conference
Change is coming for investment adviser compliance professionals. Substantial Form ADV changes come with an October deadline and the knowledge that the new data collected will assist the Commission in selecting exam targets. SEC exams are up 25% in the first half of FY 2017. The DOL rule has already wrought significant change regardless of … Continue reading Commitment to Compliance Conference
FINRA Foundations of Web CRD/IARD Training
FINRA 9509 Key West Avenue, Rockville, MD, United StatesThere 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 Registration and Disclosure Boot Camp
Fairmont Miramar Hotel & Bungalows 101 Wilshire Boulevard, Santa Monica, CAThis 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
FINRA District Compliance Meeting: Ft. Lauderdale, FL – District 7 ( Atlanta)
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. September 20, 2017 9 a.m. – 12 p.m. District Compliance Meeting … Continue reading FINRA District Compliance Meeting: Ft. Lauderdale, FL – District 7 ( Atlanta)
District Compliance Meeting – District 4 Kansas City
DoubleTree Hotel St. Louis at Westport 1973 Craigshire, St. Louis, MO, United StatesDesigned 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. Wednesday, September 20, 2017 9 a.m. – 12 p.m. District Compliance … Continue reading District Compliance Meeting – District 4 Kansas City
Compliance Boot Camp – District 3 Denver
Hilton Garden Inn - Denver Tech 7675 E. Union Avenue, Denver, CO, United StatesHalf-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 compliance professionals who are new to … Continue reading Compliance Boot Camp – District 3 Denver
Monthly & Fifth’ FOCUS IIA Filings (Month ending 08/31/2017)
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 08/31/2017)
Net Capital Computation (Month ending 08/31/2017)
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.
SEC Request for Comment: Consolidated Audit Trail
On August 30, 2017, the SEC issued an order instituting proceedings to determine whether to approve or disapprove rule proposals filed by FINRA and the national securities exchanges to eliminate or modify certain rules that require the collection or reporting of information that is duplicative of the information that will be collected by the Consolidated … Continue reading SEC Request for Comment: Consolidated Audit Trail
District Compliance Meeting – District 7 Boca Raton, Florida
The Westin Ft. Lauderdale 400 Corporate Drive, Ft. Lauderdale, FL, United StatesDesigned 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. September 27, 2017 9 a.m. – 12 p.m. District Compliance Meeting Fort Lauderdale The Westin Fort Lauderdale 400 Corporate Drive Fort Lauderdale, FL … Continue reading District Compliance Meeting – District 7 Boca Raton, Florida
Consolidated Audit Trail (CAT) Industry Call for FINRA Small Firm Members
FINRA is hosting a call and WebEx presentation related to the Consolidated Audit Trail on Wednesday, September 27, 2017, at 4:15 p.m. The purpose of the call is to help FINRA members that have never reported to OATS understand their CAT reporting obligations under SEC Rule 613. Topics include: CAT Reporting Obligations Important Dates Technical … Continue reading Consolidated Audit Trail (CAT) Industry Call for FINRA Small Firm Members
Outside Business Activities Review
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
Annual Audit Filing Due Date (Period Ending 07/31/2017)
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 07/31/2017)
Review and update Firm Element Continuing Education Plan
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