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Small Firm Webinar on CAIS Onboarding & LTID Submission

February 10, 2021
Volume 6

 
 
guidance

Guidance
  • Regulatory Notice
  • UPC Advisories
upcoming

Upcoming Deadlines and Effective Dates
  • FINRA Requests for Comment
education

Education and Compliance Programs

Register today for the next Small Firm Conference Call on Wednesday, February 24, at 4:30 p.m. ET. FINRA President and CEO Robert Cook and Vice President of Member Relations and Education Kayte Toczylowski will be joined by FINRA senior staff to discuss the 2021 Report on FINRA’s Examination and Risk Monitoring Program.



Don’t miss webinar on CAIS onboarding & LTID submission for small firms. On Wednesday, February 17, at 4:15 p.m. ET, Consolidated Audit Trail, LLC and FINRA CAT, LLC will host an industry webinar specifically for small firms focusing on CAIS onboarding and LTID submission requirements. The information presented in this webinar will be of particular interest to OATS reporting small firms that are already submitting to CAT, and for non-OATS reporting small firms that intend to register and submit to CAT by the December 2021 deadline.
 

 Guidance

FINRA Urges Firms to Review Their Policies and Procedures Relating to Red Flags of Potential Securities Fraud Involving Low-Priced Securities

Regulatory Notice 21-03 provides information that may help FINRA member firms that engage in low-priced securities business assess and, as appropriate, strengthen their controls to identify and mitigate their risk, and the risk to their customers, including specified adults and seniors, of becoming involved in activities related to fraud involving low-priced securities.

UPC Advisories

The following UPC Advisories were published in the last week:

  • UPC #11-21: Superior Energy Services Inc. (SPNX)
  • UPC #12-21: TriVascular Sales LLC (n/k/a Endologix, Inc) (ELGXQ)
  • UPC #13-21: Extraction Oil & Gas, Inc. (XOGAQ, XOGPQ)

 Upcoming Deadlines and Effective Dates

FINRA Requests for Comment

FINRA welcomes feedback in Regulatory Notice 20-42 on lessons learned from stakeholders’ experiences during the COVID-19 pandemic, including the impact of changes made to member firms’ operations and business models, and the effectiveness of business continuity planning. FINRA further requests comment on whether it should consider changes to its rules, operations or administrative processes to address lessons learned during the pandemic or to address anticipated long-term impacts of the pandemic on member firms and investors. The comment period expires February 16, 2021.

In consultation with the U.S. Department of the Treasury, FINRA is soliciting comment in Regulatory Notice 20-43 on potential enhancements to the information reported to FINRA’s TRACE facility regarding transactions in U.S. Treasury securities. The comment period expires February 22, 2021.

 

 Education and Compliance Programs

FINRA's premier event — the 2021 FINRA Annual Conference — will be held entirely online. Join us virtually May 18-20 as practitioners, peers and regulators exchange ideas on timely compliance and regulatory topics. Nowhere else will you find this unique combination of the highest-caliber speakers discussing issues that matter most for the financial services industry. Register today and take advantage of our virtual pricing!

Virtual Compliance Boot Camps are filling up fast! These one-hour interactive virtual classroom sessions include training on a variety of topics including Cybersecurity, Anti-Money Laundering (AML), and Social Media and Digital Communications, and provide an opportunity to learn from and work closely with FINRA subject matter experts. Select your sessions and register today.

Free on-demand recordings of sessions from the 2020 FINRA Small Firm Virtual Conference and the 2020 FINRA AI Virtual Conference are now available for FINRA member firms and CRCP® Graduates.

Register or Save the Date for these upcoming FINRA events:

  • FINRA Institute at Georgetown Certified Regulatory and Compliance Professional® Program
    Week I | July 18-23, 2021
  • Advertising Regulation Conference |
    October 14-15, 2021 | Washington, DC
  • Small Firm Conference | October 27-28, 2021 |
    Santa Monica, CA
  • FINRA Institute at Georgetown Certified Regulatory and Compliance Professional® Program
    Week II | November 14-19, 2021

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Regulatory Contacts
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Firms wishing to change the name or email address of their executive representative or designated assistant should do so through the FINRA Contact System (FCS). See
http://www.finra.org/FCS for further information. Requests from executive representatives to be removed from this email notification list cannot be honored.

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