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Help Design the Future of Your Digital Experience

September 25, 2019
Volume 39


  • Regulatory Notices
  • UPC Advisory

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

Education and Compliance Programs

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.

FINRA’s EVP of Enforcement Susan Schroeder announces departure. FINRA announced that Susan Schroeder plans to leave FINRA later this year, after leading the Department of Enforcement since 2017. Schroeder led the consolidation of FINRA’s enforcement functions into a new, unified group. The consolidated enforcement team now comprises 340 employees working in New York, Rockville, and 14 district offices handling disciplinary actions from across FINRA, from potential fraud to trading-based misconduct to sales practice violations.

FINRA is filing a proposed rule change with the SEC to extend the pilot period related to FINRA Rule 6121.02 (Market-wide Circuit Breakers in NMS Stocks). See SR-FINRA-2019-023 for text of the proposed change.

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.

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].



Disclosure Innovations in Advertising and Other Communications with the Public

FINRA released Regulatory Notice 19-31 to respond to questions from members about how they can comply with FINRA rules when communicating with customers—particularly when using websites, email and other electronic media—while ensuring fair and balanced presentations. Our goal is to facilitate simplified and more effective disclosure in communications with the public.

SEC Approves Amendments Relating to Transactions in U.S. Treasury Securities Executed to Hedge a Primary Market Transaction

Effective June 1, 2020, members must report transactions in U.S. Treasury Securities executed to hedge a primary market transaction with an appropriate identifier. As described in Regulatory Notice 19-30, members will have additional time to report such transactions—until the next business day during TRACE system hours.

UPC Advisory

The following UPC Advisory was published in the last week:

  • UPC #29-19 European Metals Corporation (MNTCF)

 Upcoming Deadlines and Effective Dates

FINRA Requests for Comment

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 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 is 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 Camp

  • October 17, 2019 | Jericho, NY

AML Half-Day Seminar

  • 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.

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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