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 10/31/2017)
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.
The Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) is adopting an amendment to Rule 146 under Section 18 of the Securities Act of 1933, as amended (‘‘Securities Act’’), to designate certain securities listed, or authorized for listing, on Investors Exchange LLC (‘‘IEX’’ or ‘‘Exchange’’) as covered securities for purposes of Section 18(b) of the Securities … Continue reading SEC Covered Securities Amendment to Rule 146
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 09/30/2017)
SIFMA’s Listed Options Symposium 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. Participate in-person in New York City or via webcast.
FINRA requires firms to report short interest positions in all customer and proprietary accounts in all equity securities twice a month.
The South Region Compliance Seminar is conducted to help firms and their associated persons better understand current industry and regulatory issues. Throughout the event, staff members from the Atlanta, Boca Raton, Dallas and New Orleans offices, as well as other FINRA senior staff, will be available to discuss matters of interest with you. Location Marriott Harbor … Continue reading 2017 South Region Compliance Seminar
FINRA Rule 4521 requires member firms that carry customer margin accounts to submit debit and credit balances and all securities margin accounts.
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 Public Company Accounting Oversight Board (PCAOB) has adopted new rules and amendments to auditing standards (collectively, the "proposed rules") to make the auditor's report more informative and relevant to investors and other financial statement users. The text of the proposed rules appears in Exhibit A to the SEC Filing Form 19b-4 and is available … Continue reading PCAOB Adopts New Rules for Audit Reports
FINRA must receive full payment of the Preliminary Statement fees by December 18, 2017. If payment is not received by December 18, 2017, FINRA-registered firms will be assessed a Renewal Late Fee. FINRA includes this late fee as part of the Final Statement and calculates the fee as follows: 10 percent of a firm’s cumulative … Continue reading Full payment of FINRA Preliminary Statement Due
FINRA seeks comments on emerging issues facing the industry, regulatory initiatives, rulemaking proposals, and other areas of regulatory interest. When respondents are no longer in business, recovery of arbitration awards against them often is unavailing. Accordingly, FINRA is proposing to amend the Code of Arbitration Procedure for Customer Disputes (Code) to expand a customer’s options … Continue reading Deadline for Comments on Regulatory Notice 17-33 – Code of Arbitration
FINRA seeks comments on emerging issues facing the industry, regulatory initiatives, rulemaking proposals, and other areas of regulatory interest. The FINRA Codes of Arbitration and Mediation Procedure permit compensated non-attorneys to represent clients in securities arbitration and mediation subject to certain exceptions. FINRA is conducting a review of the efficacy of continuing to allow such … Continue reading Deadline for Comments on Regulatory Notice 17-34 – Arbitration Procedures
FINRA requires firms to report short interest positions in all customer and proprietary accounts in all equity securities twice a 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 11/30/2017)
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.
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
Effective January 1, 2018, Prometric will be the exclusive vendor delivering FINRA and its client exams. December 31, 2017 will be the last day candidates can take their exam at a Pearson VUE testing center. fter you are enrolled to take an examination, FINRA will post a 120-day window in Web CRD in which you can … Continue reading Pearson Vue – Last Day to Provide FINRA Exams