May Board of Governors Meeting: Rulemaking Items for Consideration

Posted: May 3, 2017

FINRA's Board of Governors will meet on May 10 in New York and will consider the following rulemaking items. After the meeting, FINRA will notify firms via email about the Board's actions and anticipated next steps, if any.

Broker Conduct

The Board will consider proposed rule amendments and other steps designed to heighten the oversight of high-risk brokers and the firms that employ them, as well as additional guidance on supervision requirements.

Liquidity Reporting and Notification

The Board will consider publishing a Regulatory Notice seeking comment on a new liquidity schedule requiring reporting by larger firms to FINRA of their liquidity funding arrangements, and comment on amendments to FINRA Rule 4521 (Notifications, Questionnaires and Reports) requiring reporting to FINRA of material changes in such arrangements.

Unpaid Arbitration Awards

The Board will consider proposing amendments to FINRA’s Code of Arbitration Procedure for Customer Disputes and the Uniform Application for Securities Industry Registration or Transfer (Form U4) regarding payment of arbitration awards by firms and individual brokers.