Rulemaking Items for Discussion at the December 2015 Meeting
The FINRA Board of Governors will consider the following rulemaking items at its December 2015 meeting. After the meeting, FINRA will notify firms via email about the Board’s actions on these items and anticipated next steps, if any.
ATS Block Data
The Board will consider a proposed amendment to Rule 6110 (Trading Otherwise than on an Exchange) to publish aggregate information regarding alternative trading systems (ATS) block-size trades on FINRA’s website.
Award Offsets in Arbitration
The Board will consider proposed amendments to Rules 12904 and 13904 of the Customer and Industry Codes of Arbitration Procedure, respectively, to address how a party pays the net difference of a monetary award in arbitration.
Qualification and Registration
The Board will consider proposals to restructure the representative-level qualification examinations and to adopt a waiver program for individuals working for a member firm’s financial services industry affiliate.
Shortening the Settlement Cycle
The Board will consider proposed amendments to FINRA rules to support industry initiatives to shorten the settlement cycle from trade date plus three (T+3) to trade date plus two (T+2) for U.S. securities in the secondary markets.
Use of Claim and Issue Preclusion in Disciplinary Proceedings
The Board will consider a new procedural rule that will clarify the use of claim and issue preclusion in disciplinary proceedings.