Guidance
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Disciplinary Actions
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Upcoming Deadlines and Effective Dates
- SEC Request for Comment
- FINRA Elections
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Education and Compliance Programs
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Consolidated Audit Trail, LLC and FINRA CAT, LLC have published a new CAT Fees page on the CAT website. The new page includes:
Additionally, the recording and presentation from the second CAT Billing Webinar held on Nov. 7, 2023, has been published.
New CAIS FAQ Q72, regarding when an "Active Account" is required to be reported to CAIS by the acquiring firm in a Mass Transfer scenario, has also been published.
Please contact the FINRA CAT Helpdesk at [email protected] or (888) 696-3348 with any questions or concerns related to this email.
| | Guidance FINRA’s latest Information Notice provides information to remind registered persons and firms of the new requirements regarding the Continuing Education (CE) Firm Element, including: the extension of the completion requirement to all registered persons; the other required training that can satisfy an individual’s Firm Element obligation; and the revision of the minimum Firm Element training criteria.
FINRA Cyber Alert on Citrix NetScaler Products – FINRA is highlighting recently reported vulnerabilities that impact Citrix NetScaler services, which are typically used in support of internet-based application systems to balance and manage incoming requests and enhance security and resiliency. Threat actors can exploit these vulnerabilities to exfiltrate sensitive information and infect data and systems with ransomware. Questions related to this Alert or other cybersecurity-related topics can be emailed to the CAU.
| | 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 November 2023 Monthly Disciplinary Actions.
| | Upcoming Deadlines and Effective Dates SEC Request for Comment
The SEC requests comment on FINRA’s proposed rule change to (1) amend FINRA Rules 6710 and 6750 to provide that FINRA will disseminate information on individual transactions in U.S. Treasury Securities that are On-the-Run Nominal Coupons reported to FINRA’s Trade Reporting and Compliance Engine (“TRACE”) on an end-of-day basis with specified dissemination caps for large trades, and (2) amend FINRA Rule 7730 to include U.S. Treasury Securities within the existing fee structure for end-of-day and historic TRACE data. Comments are due November 30, 2023. See the Federal Register notice.
FINRA Elections
NAC Election
FINRA posted Election Notice 11/15/2023 announcing the National Adjudicatory Council (NAC) election for a mid-size firm seat. Mid-size firms should watch for emails from FINRA’s Inspector of Elections (from [email protected]) with specific voting instructions, including how to vote online. If you need assistance or have questions about the election process, contact FINRA’s Office of the Corporate Secretary via email or call (202) 728-8949. Voting concludes on Friday, December 15.
SFAC & Regional Elections
FINRA is holding several elections to fill seats on the Small Firm Advisory Committee (SFAC) and Regional Committees. On Monday, October 23, FINRA posted the official Election Notices and voting instructions were sent via email by FINRA’s Inspector of Elections (from [email protected]) to the executive representatives of FINRA member firms eligible to vote in the elections for the SFAC and Regional Committees. Voting concludes on Wednesday, November 22.
Web EFT Retires November 2024
This is a reminder to firms using the legacy Web EFT service that effective Nov. 15, 2024, all associated XML file upload and download functionality will be completely retired. Current Web EFT subscribers wishing to continue making automated data transfers with FINRA must transition to using the new FINRA API platform. Key milestones and frequently asked questions are on the platform’s Web EFT Sunset page.
Submit Payment Before Dec. 11 for 2024 Renewal Program Preliminary Statements
Firms are required to renew their registrations with FINRA, other self-regulatory organizations (SROs) and states/jurisdictions during the Annual Renewal Program. Preliminary Statements and reports for the 2024 Renewal Program are available in FINRA systems, and full payment must be posted by Monday, Dec. 11. Ensure your firm’s obligations are addressed by the appropriate deadlines.
For more information, consult the Annual Renewal Program page.
MQP Second Enrollment Period
FINRA reminds firms and industry professionals that it amended Rule 1240.01 (Eligibility of Other Persons to Participate in the Continuing Education Program Specified in Paragraph (c) of the Rule) to provide eligible individuals another opportunity to participate in the Maintaining Qualifications Program (MQP). The MQP allows eligible individuals to maintain their qualifications for up to five years by completing continuing education annually. The enrollment period for eligible individuals discussed in amended Rule 1240.01 began on March 15, 2023, and will end on Dec. 31, 2023. Visit FINRA’s website for more information.
| | Education and Compliance Programs On Wednesday, Nov. 29, 2023 and Wednesday, Dec. 6, 2023, Consolidated Audit Trail, LLC and FINRA CAT, LLC will host a two-part industry webinar covering upcoming CAIS releases. Part one will provide an overview of the planned releases, and part two will focus on detailed aspects of the releases, including outstanding errors and material inconsistencies. 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.
Save the date! FINRA will be hosting the Advertising Regulation Conference from Sep. 26, 2024 - Sep. 27, 2024. This hybrid conference will take place in Washington, D.C. and offers a comprehensive agenda designed for new and experienced communications compliance professionals.
Register for all of FINRA’s upcoming events: |
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