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FINRA Unscripted Podcast on Regulation Best Interest: Preparing for a New Standard of Conduct

October 16, 2019
Volume 42


  • UPC Advisories
disciplinary actions

Disciplinary Actions


Upcoming Deadlines and Effective Dates
  • FINRA Request for Comment

Education and Compliance Programs

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, FINRA’s Chief Legal Officer Bob Colby walks through the SEC’s Regulation Best Interest, and what steps FINRA members will need to take to prepare for its implementation. Listen to the podcast.

Register today to attend FINRA’s Senior Investor Protection Conference on November 12 in Washington, D.C. This one-day event is dedicated to sharing the most up-to-date regulatory information, effective strategies and solutions for protecting senior investors and vulnerable adults.

Today FINRA published its 2019 Report on FINRA Examination Findings and Observations. The report reflects key findings and observations identified in recent examinations, and contains effective practices that could help firms improve their compliance and risk management programs. It summarizes findings and observations across a range of topics, including supervision, cybersecurity, best execution, segregation of client assets, and Uniform Transfers to Minors Act (UTMA) and Uniform Grants to Minors Act (UGMA) accounts.

New research from the FINRA Investor Education Foundation found that many U.S. investors with “alarmingly low” levels of financial knowledge lack confidence in their ability to meet their financial goals. The study titled, New Evidence on the Financial Knowledge and Characteristics of Investors, examined nearly 15,000 Americans, aged 25 to 65, who were not retired or in school.

FINRA Board of Governors appoints Peter Fisher as newest Governor. FINRA announced that its Board of Governors has appointed Peter R. Fisher as a new public Governor. Fisher currently teaches at the Tuck School of Business at Dartmouth, where he is a clinical professor. His term on the FINRA Board begins immediately.

DXT: Send us your feedback on online support and data APIs. 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 your input on online support and data APIs, and we continue to seek input on the new landing page concept. Learn more and send us your feedback via our website.


UPC Advisories

The following UPC Advisories were published in the last week:

  • UPC #36-19 Halcon Resources Corporation (HKRSQ)
  • UPC #37-19 Rexhall Industries, Inc. (REXLQ)
  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 Request for Comment

FINRA and the other participants of the Consolidated Quotation (CQ) Plan and the Nasdaq Unlisted Trading Privileges (UTP) Plan have issued a proposal for adding odd lot quotation information to the Securities Information Processor or “SIP” data feeds. The Plan participants are actively seeking input on the proposal, which is available on both the CTA website and UTP website. Comments are due by November 15, 2019.

 Education and Compliance Programs

FINRA is hosting a Half-Day Compliance Boot Camp on October 17 in Jericho, NY and an AML Half-Day Seminar on November 14 in Boca Raton, FL. Register today to reserve your spot.

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.

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.

Also coming up:

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