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Registration Now Open for the 2019 FINRA Reg BI Conference

September 18, 2019
Volume 38


  • Regulatory Notice
disciplinary actions

Disciplinary Actions


Upcoming Deadlines and Effective Dates
  • FINRA Requests for Comment
  • FINRA Elections

Education and Compliance Programs

FINRA’s 2019 Regulation Best Interest Conference will be held on December 18 in Washington, D.C. This one-day event is designed to bring regulators, executives and industry practitioners together to learn more about the SEC’s Regulation Best Interest (Reg BI). FINRA is offering free registration to the first two attendees from each firm. Register today to reserve your spot.

Tune in to the FINRA Unscripted podcast to hear FINRA leaders review existing and emerging regulatory topics that impact the broker-dealer industry, as well as other insights into the operations of FINRA.

On this episode of FINRA Unscripted, two members of FINRA’s Technology team talk about the Createathon, FINRA’s take on a hackathon, and how it sparks innovation. Listen to the podcast.

FINRA’s Small Firm Report is a free conference call series hosted by senior FINRA leaders who discuss trending topics, new rules and regulatory guidance and best practices. Register today for the next Small Firm Report to discuss Regulation Best Interest on Tuesday, October 8.

Help design the future of your digital experience. The FINRA Digital Experience Transformation (DXT) initiative, a multi-year effort to integrate and simplify brokerage firms’ digital interactions with FINRA, is seeking input from users through monthly lightning feedback exercises. This month we are asking for comments on a new landing page concept. Learn more on our website and provide your feedback.

In Regulatory Notice 19-06, FINRA requested comment on the effectiveness and efficiency of its rule on Business Continuity Plans and Emergency Contact Information. In addition to the feedback we received during the comment process, FINRA is seeking information through a voluntary survey. Participants will have until October 4, 2019, to respond.

FINRA’s Financial Professional Gateway (FinPro) is a new, secure system designed to streamline registration and testing-related processes for firms and their associated individuals. FinPro provides direct access to resources and tools to help representatives manage their securities registration information. If your firm has not already begun onboarding its reps, start now to experience the benefits. Learn more and access support resources on our website.

All questions regarding FinPro should be directed to FINRA at (240) 386-4040 or [email protected].



SEC Approves Amendments to Expand Published Data Relating to OTC Equity Trading Volume

As described in Regulatory Notice 19-29, pursuant to rule amendments that will become effective on November 4, 2019, FINRA will expand the summary firm data relating to over-the-counter (OTC) equity trading that FINRA publishes on its website by publishing: new monthly aggregate block-size trading data for OTC trades in NMS stocks executed outside an alternative trading system (ATS) on a one-month delayed basis; and aggregate non-ATS volume for all firms by eliminating the existing de minimis exception.

 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 items on the website this week:

  • FINRA announced it has censured and fined J.P. Morgan Securities LLC (JPMS) $1.1 million for failing to timely disclose 89 internal reviews or allegations of misconduct by its registered representatives and associated persons spanning a six-year period. FINRA also required an undertaking by the firm to certify within 60 days that it has taken appropriate corrective measures.

 Upcoming Deadlines and Effective Dates

FINRA Requests for Comment

FINRA has issued Regulatory Notice 19-25 to request comment on a proposal to expand TRACE reporting requirements to collect information on trades in foreign sovereign debt securities that are U.S. dollar-denominated. Issuance activity in these debt securities has accelerated in recent years and FINRA believes the proposal would provide important regulatory information on an increasingly active segment of the market. Under the proposal, trades in U.S. dollar-denominated foreign sovereign debt securities would be subject to same-day reporting and would not be disseminated publicly. Comments are due September 24, 2019.

FINRA is conducting a retrospective review to assess the effectiveness and efficiency of its rules and administrative processes that help protect senior investors from financial exploitation. FINRA is interested in whether additional tools, guidance or changes to FINRA rules or administrative processes are appropriate to further address suspected financial exploitation and other circumstances of financial vulnerability for senior investors. Regulatory Notice 19-27 outlines the general retrospective rule review process, summarizes the rules and administrative processes that most directly apply to financial exploitation of senior investors, and seeks responses to a number of questions related to addressing financial exploitation. Comments are due October 8, 2019.

FINRA Elections

FINRA has issued Election Notice 8/20/19 to notify members of an upcoming election to fill one large firm and one mid-size firm seat on the National Adjudicatory Council (NAC), and to announce the FINRA Nominating & Governance Committee nominees for these vacancies. Individuals interested in petitioning to become candidates must complete and submit a candidate profile form by October 4, 2019.

FINRA has issued SFAC Election Notice 9/4/2019 to inform small FINRA members firms of the upcoming Small Firm Advisory Committee (SFAC) election. One seat on the SFAC is up for election, representing the New York region. Any eligible candidate wishing to have his or her name included on the ballot must submit the relevant information via the candidate profile form to the FINRA Corporate Secretary by October 4, 2019.

FINRA has issued Regional Election Notice 9/4/2019 to notify member firms of the upcoming nomination and election process to fill vacancies on FINRA’s Regional Committees. In this election, Regional Committees for the South and West Regions each have six full-term vacancies, and the Midwest, North and New York Regions each have four full-term vacancies to fill. Eligible candidates will be included on the appropriate ballot if they submit a candidate profile form to the FINRA Corporate Secretary by October 4, 2019.


 Education and Compliance Programs

FINRA is offering five scholarships to industry professionals from small firms to attend the FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP)® program. The scholarship covers full tuition for the entire CRCP program, including room and board. The application deadline has been extended to September 27, 2019. For more information, including eligibility requirements, the selection process and the application form, please visit our website.

FINRA is hosting several upcoming Half-Day Compliance Boot Camps, AML Half-Day Seminars and Cybersecurity Half-Day Seminars across the country.

Half-Day Compliance Boot Camps

  • September 25, 2019 | Stamford, CT
  • October 17, 2019 | Jericho, NY

AML Half-Day Seminars

  • September 19, 2019 | Chicago, IL
  • October 8, 2019 | New York, NY

Cybersecurity Half-Day Seminar

  • September 26, 2019 | Boca Raton, FL

District compliance events are designed for compliance and legal professionals at FINRA member firms, and offer an opportunity to hear about current regulatory issues while engaging with District Office staff. Review the compliance calendar to see a complete list of events.

Registration for Fall Registration and Disclosure (RAD) Training Sessions is now open. Space is limited, so register soon!

  • Foundations of CRD Training | September 23–24, 2019 | Rockville, MD
    This training is designed for broker-dealer (BD) firms or joint BD/investment adviser firms and will cover both classic CRD and new CRD functionality, registration and disclosure hot topics, plus an overview of IARD.
  • FINRA Registration and Disclosure Boot Camp | September 25–26, 2019 | Rockville, MD
    This training is designed for those who are new to reporting disclosure information in CRD or those who want to receive refresher training and reporting tips.
  • Buy One, Get One Half Off: Attend both trainings for a reduced price. To receive the discount, register for one of the classes; the discount code to register for the other class will be included in your email confirmation. The discount is non-transferable.

The 2019 Small Firm Conference takes place on October 23–24 in Santa Monica, California. This event brings together FINRA staff and industry peers for in-depth discussions on small firms' practices. Register today to hear from FINRA leaders, including CEO Robert Cook and Executive Vice President of Member Supervision Bari Havlik. View the conference agenda for additional details.

Also coming up:

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Regulatory Contacts
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