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FINRA to Host Investor Forums in Arkansas and Nevada

August 19, 2020
Volume 33


  • Election Notice
  • Regulatory Notice
disciplinary actions

Disciplinary Actions


Upcoming Deadlines and Effective Dates
  • FINRA Requests for Comment

Education and Compliance Programs

This month, FINRA is hosting two virtual Investor Forums in the states of Nevada and Arkansas. These forums, hosted by FINRA President & CEO Robert Cook and FINRA Foundation President Gerri Walsh, will discuss the current investment climate and how to avoid unnecessary risks and common investing pitfalls. Register today!

  • Arkansas Investor Forum – Tuesday, August 25, at 4:30 p.m. EDT/3:30 p.m. CDT, featuring special guests U.S. Representative French Hill and Arkansas Securities Commissioner Eric Munson.
  • Nevada Investor Forum – Wednesday, August 26, at 7:30 p.m. EDT/4:30 p.m. PDT, featuring special guests U.S. Senator Catherine Cortez Masto and Nevada State Securities Administrator Erin Houston.

Tune in to the latest episode of the FINRA Unscripted podcast. On this episode, we sit down with FINRA Ombudsman Cindy Foster to learn more about the office and how she works to prevent real or perceived conflicts of interest and, when necessary, recommend changes to ensure fair policies and procedures remain in place. Listen to the podcast.


FINRA Announces Nomination Process to Fill Upcoming Vacancies on the National Adjudicatory Council

Election Notice 8/17/2020 notifies members of an upcoming election to fill two large firm seats and one small firm seat on the National Adjudicatory Council (NAC), and to announce the FINRA Nominating & Governance Committee nominees for these vacancies. Eligible individuals not nominated by the Nominating Committee who obtain the requisite number of valid petitions may be included as candidates on the ballot by following the petition procedures described in the Notice. Petitions for candidacy are due October 1, 2020.

Update to Security Futures Risk Disclosure Statement and Supplement

In Regulatory Notice 20-28, FINRA has released an updated Security Futures Risk Disclosure Statement (2020 Statement) to replace the one that was last updated in 2018, and a supplement (2020 Supplement). The 2020 Statement incorporates all cumulative changes made to date, which include, among others, conforming changes for updates to the market-wide circuit breaker benchmark and thresholds, the higher position limits for security futures contracts and changes to the large trader reporting timeframe. The implementation date of the 2020 Statement and 2020 Supplement is September 14, 2020.


  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:

Upcoming Deadlines and Effective Dates

FINRA Requests for Comment

FINRA encourages comments on its recent paper on Artificial Intelligence (AI) in the Securities Industry, including areas where guidance or modifications to FINRA rules may be desired to support adoption of AI applications while maintaining investor protection and market integrity. Comments are requested by August 31, 2020.

FINRA requests comment in Regulatory Notice 20-24 on two proposed changes to the TRACE reporting rules that were recommended by the Securities and Exchange Commission’s Fixed Income Market Structure Advisory Committee. The proposed changes would require firms to: (1) identify corporate bond trades where the price of the trade is based on a spread to a benchmark Treasury security that was agreed upon earlier in the day (i.e., a “delayed Treasury spot trade”) and report the time at which the spread was agreed upon; and (2) identify corporate bond trades that are a part of a larger portfolio trade.
The comment period expires September 14, 2020.

FINRA requests comment in Regulatory Notice 20-29 on the practice of internalizing customer trades in the corporate bond market after obtaining auction responses, commonly known as “pennying” in the corporate bond market. Consistent with a recommendation from the SEC’s Fixed Income Market Structure Advisory Committee (FIMSAC) and a similar request for comment published by the Municipal Securities Rulemaking Board (MSRB), FINRA is soliciting comment on how to define or identify pennying, how pennying impacts market quality and whether further regulatory action would be appropriate.
The comment period expires October 16, 2020.

 Education and Compliance Programs

Registration is open for the 2021 FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP)® Program. Week I takes place on July 18-23, 2021, and Week II takes place on November 14-19, 2021.Take advantage of our new reduced registration rates and gain your CRCP designation.

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