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Disclosure of Order Routing Practices (SEC Rule 606) (Q4 2018)

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 2018) →

Quarterly SSOI Supplemental FOCUS Information (Quarter ending 12/31/2018)

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. finra.complinet.com/en/display/display.html

2019 Compliance Outreach Program for Municipal Advisors

Hyatt Regency San Francisco 5 Embarcadero Center, San Francisco, CA, United States

The Compliance Outreach Program for Municipal Advisors is a free one-day program designed to provide an open forum for municipal advisory industry professionals to discuss current compliance practices with regulators and promote a more effective compliance structure for regulatory obligations of municipal advisors. The program is sponsored by the SEC’s Office of Compliance Inspections and … Continue reading 2019 Compliance Outreach Program for Municipal Advisors →

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

Presidents’ Day – Market Holiday

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

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) →

Monthly & Fifth FOCUS II/IIA Filings(month ending 01/31/2019)

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 II/IIA Filings(month ending 01/31/2019) →

Net Capital Computation (Month ending 01/31/2019)

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 Board of Governors Meeting – February/March 2019

FINRA’s Board of Governors met on Feb. 28 and March 1 in Boca Raton, Florida, where it discussed the organization’s finances, reviewed several significant technology and other capital initiatives, and considered two rulemaking items (described below). The Board also met with staff from FINRA’s Boca Raton District Office, home of the FINRA Securities Helpline for Seniors and … Continue reading FINRA Board of Governors Meeting – February/March 2019 →

Supplemental Inventory Schedule (report period ended 01/31/2019)

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 Podcast – Member Relations & Education: Making Regulation Smarter

As a self-regulatory organization, FINRA is uniquely positioned to gain meaningful insights from its members to help ensure FINRA’s regulatory programs are working for everyone. Tasked with maintaining that relationship and keeping an open dialogue is FINRA’s Office of Member Relations and Education. The Member Relations and Education team routinely engages with firms through conferences, … Continue reading FINRA Podcast – Member Relations & Education: Making Regulation Smarter →

SIFMA’s Compliance And Legal Society Annual Seminar

JW Marriot Phoenix Desert Ridge 5350 East Marriot Drive, Phoenix, Arizona

Stephanie Avakian and Steven Peikin, Co-Directors of the Division of Enforcement, will participate in a panel at SIFMA’s Compliance and Legal Society Annual Seminar. Agenda details.

Net Capital Computation (Month ending 02/28/2019)

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.

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) →

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 →

Annual Attestation for Research Supervisory Procedures NASD Rule 2711(i)

NASD Rule 2711(i) requires that a senior officer of the broker-dealer attest annually to FINRA electronically through the firm Gateway that the broker-dealer has adopted and implemented written supervisory procedures that are reasonably designed to achieve compliance with the rule's provisions and that the compensation of all research analysts was reviewed and approved and the … Continue reading Annual Attestation for Research Supervisory Procedures NASD Rule 2711(i) →

FINRA Rule 4530/Customer Complaint Filing Due Dates (Q1 2019)

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 (Q1 2019) →

FINRA Rule 4530/Customer Complaint Filing Due Dates (Q1 2019)

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 (Q1 2019) →

Quarterly FOCUS Part llA Filings (Quarter ending 3/31/2019)

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.

Quarterly FOCUS Part llA Filings (Quarter ending 03/31/2019)

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.

Supplemental Inventory Schedule (report period ended 3/31/2019)

The 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.

Quarterly FOCUS and SSOI Filing (Quarter ending 03/31/2019)

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

Disclosure of Order Routing Practices (SEC Rule 606) (Q1 2019)

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) (Q1 2019) →

Form OBS Quarterly filing due for Q1 2019 ( March 31, 2019)

  Supplemental Schedule for Derivatives and Other Off-Balance Sheet Items (Form OBS) Unless subject to the de minimus exception, carrying and clearing firms must file Form  OBS on a quarterly basis.  A firm that claims the de minimus exception must affirmatively indicate through the eFOCUS system that no filing is required for the reporting period. … Continue reading Form OBS Quarterly filing due for Q1 2019 ( March 31, 2019) →

NSCP Spring Conference and Regulatory Interchange

The Spring Conference will offer two training tracks, designed for new and for seasoned professionals:     • TRACK 1:   Building Core Competencies – BD & IA Training for New Compliance Professionals     • TRACK 2:  Today’s Issues and Insights – Coverage for Seasoned Professionals

FINRA 2019 Annual Conference

FINRA's premier event—this conference provides the opportunity for practitioners, peers and regulators to exchange ideas on today's most timely compliance and regulatory topics.

Memorial Day – Market Holiday

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

SEC Fintech Forum to Discuss Distributed Ledger Technology and Digital Assets

SEC Washington D.C. headquarters 100 F Street N. E., Washington D.C., DC, United States

The Securities and Exchange Commission today announced that its staff will host a public forum focusing on distributed ledger technology (DLT) and digital assets on May 31, 2019.  The forum is being organized by the agency’s Strategic Hub for Innovation and Financial Technology (FinHub) and was announced in connection with the launch of FinHub last year.  FinHub is … Continue reading SEC Fintech Forum to Discuss Distributed Ledger Technology and Digital Assets →

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 →

FINRA Market Holiday – Independence Day

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 Rule 4530/Customer Complaint Filing Due Dates (Q2 2019)

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 2019) →

FINRA Rule 4530/Customer Complaint Filing Due Dates (Q2 2019)

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 2019) →

Quarterly FOCUS Part llA Filings (Quarter ending 6/30/2019)

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.

SIPC 7 Assessment (Fiscal year ending May 31, 2020)

Members of SIPC are required to pay an assessment on 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 no later than 60 days after the fiscal year end of the SIPC Member.

Disclosure of Order Routing Practices (SEC Rule 606) (Q2 2019)

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) (Q2 2019) →

Comments Due on MSRB Rule G-23 on Activities of Dealers Acting as Financial Advisors

The Municipal Securities Rulemaking Board (MSRB) is seeking comments on MSRB Rule G-23, on activities of financial advisors, in connection with its ongoing retrospective review of MSRB rules and guidance.   This request for comment is intended to elicit input on whether Rule G-23’s requirements on brokers, dealers and municipal securities dealers (together, “dealers”) acting in a financial advisor capacity to issuers … Continue reading Comments Due on MSRB Rule G-23 on Activities of Dealers Acting as Financial Advisors →

Monthly Net Capital Computation (Month ending 7/31/2019)

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 Market Holiday – Labor Day

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

SIFMA – Listed Options Symposium

New York, NY

SIFMA's Listed Options Symposium is a New York City event that brings together industry leaders, representing various roles across the market segment, for in-depth discussions on the state of the options market, and the challenges and opportunities facing investors and market participants.

SIFMA – Equity Market Structure Conference

New York, NY

The 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 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 – Compliance & Legal Society Charlotte Regional Seminar

Charlotte, NC

The C&L Society Charlotte Regional Seminar gathers compliance and legal professionals working in the financial services industry to exchange ideas, strategies and guidance on ways to gain a competitive advantage in the increasingly complex and changing regulatory and compliance arenas.

SIFMA – Fintech Conference

New York, NY

SIFMA's Fintech Conference brings together innovators, industry leaders and policymakers in New York City to discuss the emerging fintech evolution and how existing regulatory frameworks can accommodate new transformative technologies.

Monthly Net Capital Computation (Month ending 8/31/2019)

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.

SIFMA – Global Corporate Actions Forum

New York, NY

The Global Corporate Actions Forum brings together operations and technology professionals from broker-dealers, banks, asset managers, service providers and clearing firms to discuss the latest regulations, challenges, best practices and emerging technologies affecting Corporate Actions.

FINRA Rule 4530/Customer Complaint Filing Due Dates (Q3 2019)

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 (Q3 2019) →

SIFMA – AICPA and SIFMA FMS National Conference on the Securities Industry

New York, NY

Join senior executives and regulatory policymakers at The National Conference on the Securities Industry this fall to examine the latest developments in evolving securities regulations, auditing and accounting requirements. Hosted by the American Institute of Certified Public Accountants (AICPA) and the SIFMA Financial Management Society (SIFMA FMS).

2019 FINRA Small Firm Conference

Fairmont Miramar Hotel & Bungalows 101 Wilshire Boulevard, Santa Monica, CA

The Small Firm Conference focuses on small firms’ practices and tips for complying with FINRA rules. Throughout the event, attendees have the opportunity to discuss small firm issues with FINRA senior staff. Agenda Please check this website frequently for updates—the conference agenda will be available at a later date. Location Fairmont Miramar Hotel & Bungalows, … Continue reading 2019 FINRA Small Firm Conference →

Monthly Net Capital Computation (Month ending 9/30/2019)

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.

Quarterly FOCUS Part llA Filings (Quarter ending 9/30/2019)

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.

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