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Tune in to the Latest Episode of the FINRA Unscripted Podcast

May 3, 2023
Volume 18



disciplinary actions

Disciplinary Actions


Upcoming Deadlines and Effective Dates

 • SEC Request for Comment


Education and Compliance Programs


Tune in to the latest episode of the FINRA Unscripted podcast. In this episode, we cover what goes into the creation of a Reg Notice and explore FINRA’s two recent Reg Notices regarding the fraudulent transfer of customer accounts using an automated system called ACATS. Listen to the podcast.


FINRA has adopted amendments to FINRA Rule 8312 to release information on BrokerCheck as to whether a particular current or former member firm is currently designated as a Restricted Firm.

FINRA recently published a Special Notice regarding the annual election nomination and election procedures for each specific election at the start of each election cycle. This Notice provides:

  • a description of responsibilities for the various groups;
  • an overview of each elected vacancy to be filled in 2023; and
  • a summary of how eligible individuals can become candidates for election.
 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.

 Upcoming Deadlines and Effective Dates

SEC Request for Comment

On April 12, 2023, the SEC issued an order instituting proceedings to determine whether to approve or disapprove FINRA’s proposed rule change, as modified by Amendment No. 1, to amend the Codes of Arbitration Procedure (Codes) to make various clarifying and technical changes to the Codes. Comments are due May 9, 2023. Any rebuttals to comments filed with the SEC are due May 23, 2023. See the SEC Notice of Order.

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 (FAQ).

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.

 Education and Compliance Programs

FINRA's Annual Conference has reached in-person capacity. Virtual registration is available, and all sessions are streaming live on the virtual platform. View the agenda.

Registration Systems Foundation In-Person Training returns this June in St. Petersburg, FL. This one-day training is designed for firm compliance personnel who are new to registration and licensing or need to become more familiar with navigating FINRA Gateway and submitting Uniform Forms. Space is limited, so register early.

Week I of the 2023 FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP)® Program is sold out. This popular program brings together world-renowned professors, expert faculty and fellow industry participants for two non-consecutive weeklong courses on the foundation, theory and practical application of securities laws and regulation. Reserve your spot now for Week II on November 12 – 17. Looking ahead? Registration is open for Week I in 2024.

Register for all of FINRA’s upcoming events:

  • FINRA Registration Systems Foundation Training
    May 31 – June 1 | noon – 5 p.m. ET | Virtual (Waitlist)
  • FINRA Institute at Georgetown Certified Regulatory and Compliance Professional® Program | Washington, DC
    • Week I | July 16 – 21, 2023 | Sold Out
    • Week II | November 12 – 17, 2023

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