| |
Guidance |
Disciplinary Actions
|
Upcoming Deadlines and Effective Dates
|
Education and Compliance Programs |
|
 |
Registration is open for FINRA’s Senior Investor Protection Conference on March 27, 2023. This event is dedicated to sharing the most up-to-date regulatory information, effective strategies and solutions for protecting senior investors and vulnerable adults.
|
|
Guidance
FINRA has adopted amendments to Rule 2231 (Customer Account Statements) to add eight new supplementary materials. Several of these new supplementary materials are derived largely from Temporary Dual FINRA-NYSE Rule 409T (Statements of Accounts to Customers) and Temporary Dual FINRA-NYSE Rule Interpretation 409T (together, the NYSE provisions). These changes become effective on January 1, 2024.
|
|
Disciplinary Actions
FINRA publishes disciplinary actions to remind registered representatives and firms of specific conduct that violates FINRA rules and may result in disciplinary action. FINRA recently published the January 2023 Monthly Disciplinary Actions.
|
|
Upcoming Deadlines and Effective Dates
SEC Request for Comment
The SEC requests comment on FINRA’s proposal to amend the Codes of Arbitration Procedure (Codes) to make various clarifying and technical changes to the Codes, including in response to recommendations in the report of independent counsel Lowenstein Sandler LLP. Comments are due February 2, 2023. See the Federal Register notice.
As a reminder, the SEC amended Rule 17a-4 on October 12, 2022, to modify the requirements regarding the maintenance and preservation of electronic records, the use of third-party recordkeeping services to hold records, and the prompt production of records (effective and compliance dates: January 3, 2023, and May 3, 2023, respectively). FINRA prepared a chart that summarizes the most significant changes. Additionally, the SEC has prepared responses to Frequently Asked Questions (FAQs).
As a result of the changes to the language of the Third-Party Access Undertaking, firms electing to continue using their current third-party access arrangements to comply with Rule 17a-4(f) must ensure that the third-party files new undertakings including the amended language. These new undertakings must be submitted to FINRA by May 3, 2023. Firms are alerted that if they elect to utilize an electronic recordkeeping system, the amendments require that they submit to FINRA either a Third-Party Access Undertaking or a Designated Executive Officer Undertaking. endhere
|
|
Education and Compliance Programs
Register for all of FINRA’s upcoming events:
|
|
