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FINRA Contact System Moves to FINRA Gateway July 15

July 14, 2021
Volume 28



  • Regulatory Notice
  • UPC Advisories

Upcoming Deadlines and Effective Dates

  • FINRA Requests for Comment
  • SEC Requests for Comment
  • FINRA Elections

Education and Compliance Programs

FINRA's Annual User Accounts Certification Process is underway and will conclude July 19, 2021. During this period, Super Account Administrators certify that individuals have the appropriate level of access to FINRA systems required to perform their job responsibilities or remove access if no longer required. For detailed information, refer to the Annual Entitlement User Accounts Certification Process page.

Treasury updates large position reporting guidance. On July 1, 2021, the U.S. Department of the Treasury provided supplementary formula guidance for preparing and submitting a report in accordance with Treasury’s large position reporting (LPR) rules. The LPR supplementary formula guidance document has been reformatted in question and answer style and provides examples. The Treasury’s large position reporting rules (17 CFR Part 420) provide an on-demand reporting system that requires large position reports to be filed by entities that control a position in a particular Treasury security (or securities) equaling or exceeding the specified large position thresholds. Such information allows Treasury to monitor the impact of concentrations of positions in the Treasury securities market. The updated supplementary formula guidance is available on the TreasuryDirect website.

FINRA Contact System moving to FINRA Gateway July 15. The FINRA Contact System (FCS) has been redesigned and will move to Contacts in FINRA Gateway on July 15, 2021. FCS will no longer be accessible through Firm Gateway after the transition. The redesign includes several updates requested by firms including: a reduced number of requested roles, the addition of the Senior Investor Inquiries role, prominent placing for FCS Reports and historical contact information. The look and feel of FCS has also been updated to be consistent with FINRA Gateway. Visit for more information.

Tune in to the latest episode of the FINRA Unscripted podcast. On this episode, we sit down with Stephanie Dumont, the new head of FINRA’s Market Regulation and Transparency Services department. Stephanie shares her priorities, her vision for the department, and how FINRA is responding to recent market events. Listen to the podcast.


UPC Advisories

The following UPC Advisories were published in the last week:

  • UPC #52-21: General Moly, Inc. (GMOLQ)
  • UPC #53-21: RenaissanceRe Holdings Ltd (OTC Symbol: RNRRV)
  • UPC #54-21: RenaissanceRe Holdings Ltd (RNRRP)
  • UPC #55-21: Prospect Cap Corp (OTC Symbol: PSECV)
  • UPC #56-21: First Republic Bank San Francisco California (OTC Symbol: FRBSV)

 Upcoming Deadlines and Effective Dates

FINRA Requests for Comment

FINRA is requesting comment on potential enhancements to its short sale reporting program in Regulatory Notice 21-19. FINRA is considering: (1) modifications to its short interest reporting requirements (Rule 4560); (2) a new rule to require that participants of a registered clearing agency report to FINRA information on allocations to correspondent firms of fail-to-deliver positions; and (3) other potential enhancements related to short sale activity. The comment period expires August 4, 2021.

FINRA issued Special Notice 6/30/21 seeking input from firms, investors, investor advocates, academics and other stakeholders who are knowledgeable about investor behavior regarding the most effective methods for educating newer investors. Comments will help inform and guide the investor education initiatives FINRA and the FINRA Investor Education Foundation undertake.
The comment period expires August
 30, 2021.

SEC Requests for Comment

The SEC requests comment on FINRA’s proposal to amend FINRA Rule 1240 (Continuing Education Requirements). The proposed rule change also makes conforming amendments to FINRA Rule 1210 (Registration Requirements). Among other changes, the proposed rule change requires that the Regulatory Element of continuing education be completed annually rather than every three years and provides a path through continuing education for individuals to maintain their qualification following the termination of a registration. Comments are due July 15, 2021. See the Federal Register notice.

The SEC requests comment on FINRA’s proposal to amend Rule 2165 (Financial Exploitation of Specified Adults) to permit member firms to: (1) extend a temporary hold on a disbursement of funds or securities or a transaction in securities for an additional 30-business days if the member firm has reported the matter to a state regulator or agency or
a court of competent jurisdiction; and (2) place a temporary hold on a securities transactions where there is a reasonable belief of financial exploitation. Comments are due July
 19, 2021. See the Federal Register notice.

FINRA Elections

The annual meeting of FINRA firms will take place on or about Wednesday, September 1, 2021, to elect one Large Firm Governor, one Mid-Size Firm Governor, and one Small Firm Governor to the FINRA Board of Governors. Election Notice 6/4/21 announced the FINRA Nominating & Governance Committee nominees to fill these vacancies, and informed individuals not nominated by the Nominating Committee of the procedures for being included as an additional candidate on the ballot for these elections.
Petitions for candidacy are due July 19, 2021.

 Education and Compliance Programs

Register for these upcoming FINRA events:

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Regulatory Contacts
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