Guidance
• Cybersecurity Alert
• SIPC Portal
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Disciplinary Actions
• October 2023 Disciplinary Actions
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Upcoming Deadlines and Effective Dates
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Education and Compliance Programs
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The FINRA Diversity Summit is less than two weeks away. The conference agenda, with session descriptions and speakers, is now available. Join the virtual event on 10/31-11/2 for six sessions ranging from the intersection of DEI and artificial intelligence to the latest investor research—with a kickoff discussion featuring FINRA CEO Robert Cook and NYSE Chair Hon. Sharon Bowen, as well as a keynote address from Professor Loretta Ross, an Associate Professor at Smith College and 2022 recipient of the MacArthur Foundation "Genius" award. Attendance is free, but pre-registration is required—register today.
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Guidance
FINRA recently notified firms of an ongoing phishing campaign involving fraudulent emails purporting to be from FINRA and using the domain names “@rf-finra.org” and “@rfs-finra.org,” which are not connected to FINRA. Firms should delete all emails originating from these domains and follow any internal procedures related to reporting phishing emails to the appropriate stakeholders.
As a courtesy, FINRA is notifying firms of the following from the Securities Investor Protection Corporation (SIPC). SIPC will launch its SIPC Broker-Dealer Portal on Nov. 1, 2023. The SIPC Portal will provide a way for broker-dealers to file forms, pay assessments and communicate with SIPC. Broker-Dealers will be given initial access on a staggered basis, based on the broker-dealer’s fiscal year. Only broker-dealers with an October or April fiscal year end will be granted access to the SIPC Portal on Nov. 1. Additional information is available on SIPC’s website.
As a reminder, the U.S. Department of the Treasury is offering a free, virtual workshop on Treasury's auction rules this Friday, Oct. 20, 1-2 p.m. ET, providing an overview of the auction rules, including examples of auction-related calculations. There is no cost for the workshop, but registration is required by completing the online registration form by the close of business today, Wed., Oct. 18. This workshop is closed to the media.
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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 recently published the October 2023 Monthly Disciplinary Actions.
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Upcoming Deadlines and Effective Dates
SEC Requests for Comment
The SEC requests comment on FINRA’s proposal to revise and restate the qualifications for representatives in arbitrations and mediations in the forum administered by FINRA Dispute Resolution Services (DRS); to disallow compensated representatives who are not attorneys from representing parties in the DRS forum; to codify that a student enrolled in a law school participating in a law school clinical program or its equivalent and practicing under the supervision of an attorney may represent investors in the DRS forum; and to clarify the circumstances in which any person, including attorneys, would be prohibited from representing parties in the DRS forum. The comment period expires Nov. 3, 2023. See the Federal Register notice.
On Sept. 28, 2023, the SEC issued an order instituting proceedings to determine whether to approve or disapprove FINRA’s proposed rule change to amend FINRA Rule 4210 (Margin Requirements) to provide margin relief for specified index option transactions, known as “protected options,” and to make other minor conforming revisions with regard to the margin relief. Comments are due by Oct. 25, 2023. Rebuttal comments are due by Nov. 8, 2023. See the SEC Notice of Order.
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Education and Compliance Programs
FINRA’s Small Firm Conference is next week. Don’t miss this exclusive event that focuses on small firms’ practices and tips for complying with FINRA rules. Throughout the event, attendees have the opportunity to network with FINRA senior staff and peers from the small firm community.
Registration is now open for FINRA’s Firm Grouping Webinars taking place on November 7-8. These four webinars are free, 75-minute sessions that highlight key topics that were discussed during the 2023 FINRA Firm Grouping Conference, provide updates on top compliance considerations that are tailored to each firm grouping and offer opportunities for participants to ask questions to FINRA leaders. Sign up today.
Join us in New York or online on February 6 for the 2024 Cybersecurity Conference, designed to help you stay current on today’s cybersecurity challenges and the ways in which organizations can understand threats and create resilience against cyber-attacks. Register today!
Register now and save! Join us at FINRA’s premier event, the 2024 Annual Conference, to connect and network with industry peers, engage in informal conversations with FINRA senior leaders and exchange diverse perspectives on the timeliest compliance and regulatory topics.
Register for all of FINRA’s upcoming events:
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