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Guidance
- Rule 4111 Annual Calculation Report – Now Available
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Disciplinary Actions
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Upcoming Deadlines and Effective Dates
- FINRA Request for Comment
- SEC Request for Comment
- Treasury Department Notice and Request for Information
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Education and Compliance Programs
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FINRA’s Board of Governors holds its mid-year meeting July 13-14. The Board will engage in a series of general policy discussions, including reviewing how the industry is evolving, presentations on economic and market trends, and meetings with various policymakers. In addition to these discussions, the Board will attend a reception on Capitol Hill celebrating the 20th anniversary of the Trade Reporting and Compliance Engine (TRACE)—FINRA’s real-time, over-the-counter price dissemination service for the fixed income market—as well as the fifth anniversary of the reporting of transactions in Treasury securities to TRACE.
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Guidance
FINRA Rule 4111 Annual Calculation Report – Now Available
Member firms can now access the new Rule 4111 Compliance Tool to review their annual calculation report. This tool helps assess, as of the June 1, 2022, evaluation date, whether your firm has met the Rule 4111 Preliminary Criteria for Identification, including the Preliminary Identification Metrics.
To access the Rule 4111 Compliance Tool, a firm’s Super Account Administrator (SAA) can assign eligible users the “Firm View Rule 4111 Compliance Tool” entitlement in the FINRA Account Management System located in the FINRA Gateway under Registrations, in the CRD section. If a firm’s SAA does not grant this entitlement to any of its users, the firm will be unable to access the tool. The tool is found in FINRA Gateway under the Reports tab.
For more information, consult the Rule 4111 FAQ, the Rule 4111 Compliance Tool Glossary and watch a virtual demonstration of the Rule 4111 Compliance Tool, all available on FINRA.org.
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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. FINRA posted the following disciplinary item on the website this week:
- FINRA barred Brandon Autiero of New Jersey and Harris Kausar of New York from the securities industry for cheating during qualification examinations administered online. The enforcement actions are FINRA’s first in connection with cheating on remote exams.
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Upcoming Deadlines and Effective Dates
FINRA Request for Comment
FINRA is soliciting comment on a proposal to establish a new trade reporting requirement for transactions in over-the-counter options on securities with terms that are identical or substantially similar to listed options. FINRA is proposing to require firms to report this information to FINRA on a daily basis (end-of-day) for regulatory purposes only. Comments are due September 20, 2022. See Regulatory Notice 22-14.
SEC Request for Comment
The SEC requests comment on FINRA’s proposal to amend Rule 6750 (Dissemination of Transaction Information) to provide that FINRA may publish or distribute aggregated transaction information and statistics on U.S. Treasury Securities on a more frequent basis. Comments are due July 22, 2022. See the Federal Register notice.
Treasury Department Notice and Request for Information
The U.S. Department of the Treasury has issued a Request for Information seeking comment on additional post-trade transparency for data regarding secondary market transactions in U.S. Treasury Securities, including the potential benefits and risks of several potential ways to build on existing public transparency. See the Notice Seeking Public Comment. Comments are due 60 days after the date of publication of the Notice in the Federal Register.
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Education and Compliance Programs
Week I of the 2022 FINRA Institute at Georgetown CRCP® Program is sold out and Week II has limited spots available. Reserve your spot now and join us in Washington, D.C., on November 13-18. View the Week II detailed schedule for a look at what sessions are being held and the participating faculty.
Thinking ahead and want to reserve your spot for next year? Registration for 2023 Week I is now open.
Register for all of FINRA’s upcoming events:
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