Deadline Fast Approaching: Vote to Elect FINRA Board Governors

Features

• Deadline Fast Approaching: Vote to Elect FINRA Board Governors 
  There is less than one week left to vote to elect one small firm and one large firm representative on the FINRA Board of Governors. Governors play a crucial role in providing the industry’s perspective on important issues before the Board, and we encourage member firms to cast their vote before the conclusion of the election on Aug. 18 at 9 a.m. ET. FINRA published a Notice on July 18 with details on how to vote and information about the candidates. Firms eligible to vote should have also received an email from FINRA’s Election Agent ([email protected]) containing specific voting instructions. If you need a new ballot, contact [email protected]. 
   
• New Portal for Office of Hearing Officers Matters 
  FINRA filed with the SEC a rule change to facilitate use of a more efficient and secure method for exchanging many documents in Office of Hearing Officers (OHO) proceedings. The rule requires parties to OHO proceedings to use an electronic portal in lieu of email as the primary method when filing and serving documents. It will take effect on Oct. 7. 
   
• New Guidance for Discretionary Transactions in DPP Offerings 
  FINRA clarified that prior written approval for a discretionary account transaction in a Direct Participation Program does not apply to situations where the order is placed by a registered investment adviser. The new guidance, available on the Rule 2310 FAQs section of FINRA.org, responds to feedback we received on our FINRA Forward initiative to reduce unnecessary burdens affecting the capital raising process. 
   
• FINRA Releases Timeline for Registration Renewals 
  The timeline for member firms to renew their registrations is now available here and also on the FINRA Compliance Calendar. Preliminary statements will be posted to E-Bill on Nov. 10, and renewal reports can be accessed through CRD/IARD for reconciliation purposes. See the Firm Renewal Report Guide for details. 
   
• Investor Insight on Momentum Investing 
  A new Investor Insight describes the theory behind momentum investing, in which investors buy a stock when it is moving rapidly in one direction, and then attempt to exit their position before the stock changes course. The article, which emphasizes that the strategy carries high risks, is available here. Firms are welcome to share it and other Investor Insights with customers.

• OHO Portal: See feature above for details. 
   
• DPP Offerings Guidance: See feature above for details.

Comment Process – On-demand webinar on how to provide comments on FINRA Forward proposals, as well as the impact of comment letters and how they are used.

Involvement and Election Process – How to engage with FINRA to help carry out our mission of protecting investors and safeguarding market integrity. Members can contribute their unique perspectives and skillsets with rotating terms on FINRA committees and other opportunities. Submit an indication of interest to be considered to join a FINRA advisory committee or speak at a FINRA event by clicking here.

Membership Application Program (MAP) Tools – Guidance and other resources to help current members prepare for their continuing membership application (CMA) and new applicants prepare for a new member application (NMA).