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FINRA reminds CAT registered firms to sign the CAT Reporter Agreement

February 5, 2020
Volume 5


  • Information Notice
  • UPC Advisory

Upcoming Deadlines and Effective Dates
  • FINRA Requests for Comment

Education and Compliance Programs

FINRA recently announced that Tom Selman, Executive Vice President for Regulatory Policy and Legal Compliance Officer, is retiring after 24 years at the organization. Selman, who joined the organization in 1996, oversaw a wide range of programs, including Corporate Financing, Advertising Regulation, the Office of Financial Innovation, the Office of Disciplinary Affairs and the Criminal Prosecution Assistance Group.

FINRA reminds CAT registered firms to sign the CAT Reporter Agreement and to establish necessary reporting relationships. FINRA reminds its CAT registered members that it is necessary to electronically sign the CAT Reporter Agreement. In addition, reporting relationships are required to authorize a Reporting Agent (e.g., clearing firm or vendor) to report on behalf of a CAT Reporter and to authorize a Third-Party Reporting Agent to view data submitted on behalf of a CAT Reporter by another Submitter. CAT Reporting Relationships must be entered using the CAT Reporter Portal, and instructions for how to establish them can be found in the FINRA CAT Onboarding Guide.

A PDF version of the CAT Reporter Agreement, as well as the FINRA CAT Onboarding guide, are available on the CAT NMS website. All questions regarding CAT registration and onboarding should be directed to the FINRA CAT Helpdesk at (888) 696-3348 or [email protected].

Gain insight into key priorities at FINRA’s Annual Conference, which takes place May 12–14 in Washington, DC. Join us for informative sessions, demos of FINRA systems and compliance tools, and opportunities to meet one-on-one with FINRA staff. PLUS – networking opportunities, conference exhibitors and more. Register today to receive reduced conference registration rates!


New Rate for Fees Paid Under Section 31 of the Exchange Act

Effective February 18, 2020, the Section 31 fee rate applicable to specified securities transactions on the exchanges and in the over-the-counter markets will increase from its current rate of $20.70 per million dollars in transactions to a new rate of $22.10 per million dollars in transactions. See Information Notice 2/3/20 for additional information.

UPC Advisory

The following UPC Advisory was published in the last week:

  • UPC #03-20 Southcross Energy Partners, L.P. (SXEEQ)

 Upcoming Deadlines and Effective Dates

FINRA Requests for Comment

FINRA is conducting a retrospective review of Rule 4530 (Reporting Requirements) to assess its effectiveness and efficiency. Regulatory Notice 20-02 outlines the general retrospective rule review process and seeks responses to several questions related to firms’ experiences with this specific rule. The comment period expires March 9, 2020.

FINRA’s Capital Acquisition Broker (CAB) rules provide a simplified rulebook for broker-dealers that engage only in limited capital advisory, corporate restructuring and private placement activities. FINRA is requesting comment on proposed amendments to the CAB rules, as described in Regulatory Notice 20-04, to make them more useful to CABs without reducing investor protection. The comment period expires March 30, 2020.

Covered Agency Transactions

Members are reminded that the implementation date of the margin requirements for Covered Agency Transactions pursuant to SR-FINRA-2015-036 has been extended to March 25, 2021. See the Federal Register notice, available on the FINRA website, for more information.

 Education and Compliance Programs

Register today for a Region Member Forum in your area! These one-day events, which feature sessions on key topics like the SEC's Regulation Best Interest, are designed to provide financial professionals in the region the opportunity to engage in discussions with FINRA staff and connect with industry leaders and peers.

Save the Date for these upcoming FINRA events:

  • FINRA Institute at Georgetown Certified Regulatory and Compliance Professional® Program – Week I | July 19–24, 2020 | Washington, DC
  • Small Firm Conference | November 11–12, 2020 | Santa Monica, CA
  • FINRA Institute at Georgetown Certified Regulatory and Compliance Professional® Program – Week II | November 15–20, 2020 | Washington, DC

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