Skip to main content

For updates and guidance related to COVID-19 / Coronavirus, click here.

Register Today for the 2020 Small Firm Virtual Conference

October 14, 2020
Volume 41


  • UPC Advisory

Upcoming Deadlines and Effective Dates
  • FINRA Requests for Comment
  • SEC Requests for Comment on FINRA Rules

Education and Compliance Programs

In response to COVID-19, FINRA has administratively postponed all in-person arbitration and mediation proceedings scheduled through January 1, 2021, unless the parties stipulate to proceed telephonically or by Zoom or the panel orders that the hearings will take place telephonically or by Zoom. Note that if all parties and arbitrators agree to proceed in-person, the case may proceed provided that the in-person hearing participants comply with all applicable state and local orders related to the COVID-19 pandemic. For more information, visit FINRA’s website.

Tune in to the latest episode of the FINRA Unscripted podcast. On this episode, we talk to the recipient of the 2020 Ketchum Prize, Michael Morris. Mr. Morris is the founder of the National Disability Institute and joins the podcast to discuss his research and advocacy work around the financial security and capability of Americans with disabilities. Listen to the podcast.

Register today for the 2020 Small Firm Virtual Conference! This one-day conference will be held online on October 28 and will focus on effective practices and tips for complying with FINRA rules – from the unique perspective of small firms. The conference will bring together experts, executives and policymakers to share their specialized knowledge and experiences. PLUS – Don’t miss our virtual Office Hours and networking opportunities. View the agenda and office hour schedule.


UPC Advisory

The following UPC Advisory was published in the last week:

  • UPC #39-20: Centric Brands, Inc. (CTRCQ)

Upcoming Deadlines and Effective Dates

FINRA Requests for Comment

FINRA requests comment in Regulatory Notice 20-29 on the practice of “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.

FINRA requests comment in Regulatory Notice 20-33 on proposed formal procedures for bringing actions against non-associated persons who cheat or misbehave during a FINRA qualification examination. The proposed formal procedures—a new expedited proceeding rule—would also strengthen the existing processes for responding to cheating and misbehavior by associated persons during a FINRA qualification examination. FINRA also is proposing related amendments to FINRA’s registration requirements rule and eligibility proceedings rules. The comment period expires November 23, 2020.

FINRA requests comment in Regulatory Notice 20-34 on proposed amendments to Rule 2165 (Financial Exploitation of Specified Adults) to extend the hold period and to allow temporary holds on securities transactions to further address suspected financial exploitation of senior investors. The Notice also summarizes the retrospective rule review process, including the predominant themes that emerged from stakeholder feedback and resulting actions, and provides guidance to aid member firms and senior investors. The comment period expires December 4, 2020.

SEC Requests for Comment on FINRA Rules

The SEC requests comment on FINRA’s proposal to require firms to report time fields in trade reports submitted to a FINRA equity trade reporting facility using the same timestamp granularity that they use to report to the consolidated audit trail (‘‘CAT’’), in accordance with an SEC order granting exemptive relief from certain CAT NMS Plan requirements. The comment period expires October 20, 2020. See the Federal Register notice

The SEC requests comment on FINRA’s proposal to amend the Code of Arbitration Procedure for Customer Disputes and the Code of Arbitration Procedure for Industry Disputes to modify the current process relating to the expungement of customer dispute information. The comment period expires October 22, 2020. See the Federal Register notice.

The SEC requests comment on FINRA’s proposal to delete the rules related to the OTC Bulletin Board® Service ("OTCBB") and cease its operation, and to enhance the regulation of quotations in OTC Equity Securities by adopting new requirements for member inter-dealer quotation systems. The comment period expires October 28, 2020. See the Federal Register notice.


 Education and Compliance Programs

Register today for the 2020 FINRA Artificial Intelligence (AI) Virtual Conference and Fintech Office Hours. The Virtual AI Conference, on November 9, is a half-day event to bring together regulators and industry leaders within the financial industry to discuss the use of AI and related opportunities and challenges. The Fintech Office Hours, held on November 10, will be hosted by FINRA’s Office of Financial Innovation and are designed to engage with broker-dealers, vendors, and other market participants seeking to bring forth fintech innovations. This event provides a platform for discussions on market and regulatory implications and related benefits and challenges associated with innovations occurring in the financial industry. View the conference agenda and office hour schedule.

Reserve your spot at FINRA’s premier event, the 2021 Annual Conference. This conference takes place on May 18-20, 2021, in Washington, DC and provides the opportunity for practitioners, peers and regulators to exchange ideas on today's most timely compliance and regulatory topics. Register today to receive a discount on conference registration rates.

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.

FINRA logo

 facebook   twitter   linked in

Regulatory Contacts
FINRA By-Laws require member firms to maintain an Internet email account on behalf of their executive representatives. This facilitates firm notification of important publications and information added to the FINRA website.

Firms wishing to change the name or email address of their executive representative or designated assistant should do so through the FINRA Contact System (FCS). See for further information. Requests from executive representatives to be removed from this email notification list cannot be honored.

You received this message because you are currently subscribed to the email subscription list on the FINRA website. To update, sign up for other email lists or cancel your subscription at any time, use our "update information" or "unsubscribe" forms located at