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Stephanie Dumont Named Head of Market Regulation and Transparency Services

March 10, 2021
Volume 10


  • Regulatory Notices

Education and Compliance Programs

FINRA’s Board of Governors met on March 3 and 4 when it approved proposed amendments to FINRA’s Borrowing From or Lending to Customers Rule, approved the allocation of 2020 fine monies to various capital initiatives in accordance with FINRA’s Financial Guiding Principles, and moved forward with an advanced analytics strategic initiative.

Tune in to the latest episode of the FINRA Unscripted podcast. On this episode, we hear from John Brady, FINRA’s Chief Information Security Officer (CISO), and Eric Pickersgill, FINRA’s Deputy CISO, on FINRA’s cybersecurity priorities for the year ahead. Plus, we learn why you should think twice before trying to brush that piece of hair or dust off your phone screen. Listen to the podcast.

Beginning in April 2021, the TRAQS website entitlement will be upgraded to use Multi Factor Authentication (MFA) for greater security. TRAQS is the secure website that is used by Broker-Dealers and Service Bureaus to report and view TRACE and Over-the-Counter (ORF) transactions to FINRA. All TRAQS users, please review the FINRA Technical Notice for additional details on how to enroll for MFA and testing opportunities. Starting April 19, 2021, users who have not converted to MFA will be denied access to the TRAQS website.

FINRA announced that it has promoted Stephanie Dumont to the role of Executive Vice President and Head of Market Regulation and Transparency Services, effective immediately. Dumont joined FINRA in 1999 and most recently served as Senior Vice President and Director of Capital Markets Policy for FINRA's Office of General Counsel. Dumont will report to President and CEO Robert W. Cook and join FINRA’s Management Committee.


FINRA Provides Guidance on Common Sales Charge Discounts and Waivers for Investment Company Products

FINRA issued Regulatory Notice 21-07 to remind firms of their obligation to understand and, as appropriate, apply sales charge discounts and waivers for eligible customers; provide an overview of common sales charge discounts and waivers; share frequently observed findings in examinations and enforcement matters; and note considerations firms should review to improve their compliance programs. This Notice does not create new legal or regulatory requirements or new interpretations of existing requirements.

FINRA Alerts Firms to Phishing Email Using “” Domain Name

FINRA warns member firms in Regulatory Notice 21-08 of an ongoing phishing campaign that involves fraudulent emails purporting to be from “FINRA Membership” and using the email address “[email protected]”. The email asks the recipient to respond to an issue of “regulatory non-compliance for which your immediate response is required” and then asks the recipient to click on a link or document. FINRA recommends that anyone who clicked on any link or image in the email immediately notify the appropriate individuals in their firm of the incident.

FINRA Adopts Rules to Address Brokers With a Significant History of Misconduct

FINRA has adopted new rules to address brokers with a significant history of misconduct and the broker-dealers that employ them. See Regulatory Notice 21-09 for additional information on the new rules and their effective dates.


 Education and Compliance Programs

Register to listen to the latest Small Firm Conference Call where FINRA President and CEO Robert Cook and Vice President of Member Relations and Education Kayte Toczylowski were joined by FINRA senior staff to discuss the 2021 Report on FINRA’s Examination and Risk Monitoring Program.

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.

Register 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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