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FINRA Weekly Update - 5/29/24

May 29, 2024
Volume 22





disciplinary actions

Disciplinary Actions


Upcoming Deadlines and Effective Dates


Education and Compliance Programs


Securities Lending and Transparency Engine (SLATE) Resources
Visit the new SLATE page for a project timetable and additional resources to help prepare in the event the SEC approves FINRA’s proposed rule change to adopt the FINRA Rule 6500 Series (Securities Lending and Transparency Engine (SLATE)). As a reminder, SLATE is a new facility to allow for covered securities loan transaction reporting by covered persons and transparency of covered securities loan transactions in accordance with SEA Rule 10c-1a and the proposed FINRA Rule 6500 Series. 

FINRA Rule 6151 Submissions and Testing
Register for a webinar on FINRA Rule 6151 submissions on June 4, 4 p.m.-5 p.m. ET. The rule on Disclosure of Order Routing Information for NMS Securities goes into effect on June 30, requiring members to submit to FINRA for centralized publication the order routing reports required under SEC Rule 606(a). Testing for this rule change will begin on June 5. If you are interested in participating in the testing, please fill out this form for access.

New Podcast on High-Risk Representative Program
Listen to the latest episode of FINRA Unscripted for a discussion with three individuals from FINRA’s High-Risk Representative program on how they identify and monitor individuals who pose an elevated risk of misconduct to protect investors and maintain the integrity of the market. 

FINRA Statement to Correct Misinformation About New Residential Supervisory Location Rule
As a reminder, read FINRA's statement to correct misinformation in media coverage stating that FINRA's new Residential Supervisory Locations and Remote Inspection Pilot Program rules will require them to bring their workforce back to the office full time. The rules are intended to provide member firms greater flexibility — not less — to allow eligible registered persons to work from home, following the expiration of temporary COVID-19 relief from existing requirements. 




  • Transactions Involving FINRA Employees and Delivery of Duplicate Statements to FINRA 
    FINRA published a new FAQ providing firms additional guidance on Rule 2070(a) (Transactions Involving FINRA Employees). The FAQ states that a member that provides FINRA an eFeed of account transaction and position data at a FINRA employee’s request should not also send duplicate statements for the account to FINRA. Read the FAQ for more details, including requirements for members that do not provide an eFeed for FINRA employees’ accounts. 
  • Treasury Call for Large Position Reports
    The U.S. Treasury Department will conduct a call for large position reports sometime over the next three months. Treasury is offering a free virtual workshop on June 7, 1:00-2:00 p.m. ET, about its Large Position Reporting rules, which apply to all U.S. and foreign entities that may control a large position in a specified Treasury security. To register for the workshop, complete the online form. The workshop is closed to the press.

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. The May 2024 Monthly Disciplinary Actions are available here

 Upcoming Deadlines and Effective Dates


  • As a reminder, FINRA Rule 6151 (Disclosure of Order Routing Information for NMS Securities) goes into effect on June 30. The rule requires members to submit to FINRA for centralized publication the order routing reports required under the Securities and Exchange Commission’s (SEC) Rule 606(a) (Rule 606(a) Reports), and FINRA will centralize access to all Rule 606(a) Reports on its website. To learn more, visit FINRA Rule 6151 – Centralization of SEC Rule 606(a) Reports. In addition, testing for this rule change will begin on June 5. If you are interested in participating in the testing, please fill out this form for access.



 Education and Compliance Programs

Register for upcoming events:

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