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
We cordially invite you to attend the SIFMA Compliance & Legal Society Charlotte Regional Seminar to be held at The Ritz-Carlton on September 30th, 2013. This one day seminar will feature presentations by leading securities regulators and industry professionals. Topics Include: Hot Topics In Securities Enforcement Cybersecurity Compliance Framework for Bank Supervision Investment Advisers – … Continue reading SIFMA Compliance & Legal Society Charlotte Regional Seminar
Mark your calendar and plan to attend the 2014 FINRA Annual Conference to hear the latest regulatory developments and FINRA priorities, and gain practical guidance on compliance issues. Register by October 1 to take advantage of the lowest registration rates that are available to the first 100 in-person registrants. For more information, visit www.finra.org/annualconference
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. finra.complinet.com/en/display/display_viewall.html
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend FINRA Rule 5131 (New Issue Allocations and Distributions) to allow members to rely on written representations from certain accounts to comply with Rule 5131(b) related to spinning. Please click on the link … Continue reading Proposed Rule Change to Amend FINRA Rule 5131 (New Issue Allocations and Distributions): Comment Deadlline
As a reminder, October 4 is the nomination deadline for upcoming elections to fill one seat on the Small Firm Advisory Board and vacancies on FINRA District Committees. The SFAB Election Notice provides details about the election process for New York Region vacancy. The District Committee Election Notice provides details about the seats open for … Continue reading Nominations Due October 4: SFAB and District Committees
FINRA's next free webinar is on October 8, 2013, at 1 p.m. (ET). During the 60-minute program FINRA staff and industry experts will discuss the implementation of the suitability rule and highlight examination methodology, common findings and effective industry practices for complying with the rule. Visit the FINRA website for more information and to register.
Compliance Boot Camps 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 … Continue reading FINRA Half-Day Compliance Boot Camp
Date: October 9 - 11, 2013 For specific information about the NAIPFA Annual Conference: Annual Conference Packet including Registration Form Annual Conference Registration Form for Non-Municipal Advisor and Non-Sponsor Attendees The National Association of Independent Public Finance Advisors (NAIPFA) is a professional organization limited to firms that specialize in providing financial advice on bond … Continue reading NAIPFA Annual Conference
October 10–11, 2013 Renaissance Washington, DC Downtown Hotel 999 Ninth Street, NW Washington, DC 20001 FINRA's annual Advertising Regulation Conference provides practical guidance on complying with advertising rules and regulations for communications with the public. Conference sessions address FINRA rules and interpretations as they apply to communications for investment company products, structured products and alternative … Continue reading FINRA Advertising Regulation Conference
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 2013)
The SIFMA Market Structure Conference is the industry's leading event for navigating today's fast, highly-fragmented and complex markets and the regulatory framework that governs them. Join your colleagues as leading experts discuss off-exchange trading venues; the benefits and challenges of electronic trading; identify the steps market participants should take to address the impact of systems … Continue reading SIFMA Market Structure Conference
The firm should complete the review of the outside brokerage accounts of all associated persons for the prior month. finra.complinet.com/en/display/display_main.html
Date: October 21 - 23, 2013 What: National Society of Compliance Professionals 2013 National Meeting The Securities Compliance Industry’s Most Comprehensive Educational Meeting: 80+ Topics encompassing Investment Adviser, Broker-Dealer, Private Fund/Hedge Fund and Investment Company issues. When: October 21, 2013 - October 23, 2013 9:00 a.m.-4:00 p.m. ET Where: Washington Hilton 1919 Connecticut Ave., … Continue reading 2013 NSCP National Meeting
As a reminder, the SEC adopted amendments to the net capital, customer protection, books and records, and notification rules (SEA Rules 15c3-1, 15c3-3, 17a-3, 17a-4 and 17a-11), and amended annual reporting and audit requirements under SEA Rule 17a-5. Certain of the new rules were to take effect on October 21, 2013. However, on October 17 … Continue reading Update: New SEC Financial Responsibility Rules
FINRA is soliciting public comment on a set of proposed rules—referred to as the Funding Portal Rules-and related forms for SEC—registered funding portals that become FINRA members pursuant to the crowdfunding provisions of the JOBS Act. The comment period expires February 3, 2014. See Regulatory Notice 13-34.
FINRA seeks comment on a revised proposal to transfer the NASD Rule 1010 Series (Membership Proceedings), with substantive changes, into the Consolidated FINRA Rulebook as the FINRA Rule 1100 Series (Member Application). The revised proposal includes changes in response to comments on the prior proposal set forth in Regulatory Notice 10-01. The proposal also includes … Continue reading FINRA Requests for Comments: Regulatory Notice 10-1
Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update The Securities Industry/Regulatory Council on Continuing Education (Council) has released its Fall 2013 Firm Element Advisory (FEA). The Council produces the FEA to identify regulatory and sales practice topics that firms should consider in their Firm Element training plans. Topics updated or added since … Continue reading Regulatory Notice 13-3 Securities Industry/Regulatory Council on Continuing Educaion Issues Firm Element Advisory Update
The Municipal Securities Rulemaking Board (MSRB) Board of Directors meets October 23-25, 2013, where it will discuss the following rulemaking topics.* A summary of actions taken by the Board at the meeting will be sent to regulated entities and published on the MSRB's website following the meeting. Best Execution The Board will discuss public … Continue reading MSRB Board of Directors Meeting Agenda
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 (NASD Rule 3050)
FINRA periodically reviews the content of qualification examinations to determine whether revisions are necessary or appropriate in view of changes—including changes to the laws, rules and regulations—pertaining to the subject matter covered by the examinations. Based on this review process, FINRA has revised the Supervisory Analyst (Series 16) examination program. To find our more information … Continue reading Regulatory Notice 13-28: FINRA Revises the Series 16 Examination Program
Effective October 28, 2013, new entitlement privileges will be added to Web CRD/IARD as additional safeguards to viewing sensitive or confidential data. Please review the entitlement privileges page to learn how these new privileges will impact super account administrators, account administrators and users of Web CRD/IARD.
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 08/31/2013)
MSRB Rule A-14 In addition to any other fees prescribed by the rules of the Board, requires each broker, dealer, municipal securities dealer, and municipal advisor shall pay an annual fee to the Board of $500, with respect to each fiscal year of the Board in which the broker, dealer, municipal securities dealer, or municipal … Continue reading MSRB Rule A•14 (Annual Fee)
Please be advised that if the broker-dealer is registered in the State of Illinois, you will receive (or have received) a 2 page letter from Illinois requesting verification that the Designated Principal on their records is accurate. One page of the document will be the Designation of Principal form, which is required to be edited … Continue reading Illinois Renewal for Dealers