Guidance
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Upcoming Deadlines and Effective Dates
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Education and Compliance Programs
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Effective May 28, 2024 in accordance with the industry-led shortened settlement cycle from two business days (T+2) to one business day (T+1), FINRA will implement its changes for equity trade reporting.
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Tune in to this encore episode of the FINRA Unscripted podcast, where we revisit the key takeaways from Regulatory Notice 22-23 (FINRA Provides Guidance on Succession Planning), including why succession planning helps customers and registered representatives plan for orderly transitions of customer accounts, but can even play a role in in minimizing firms’ operational and other risks. Listen to the podcast.
| | Guidance FINRA Cybersecurity Advisory on Threat Actor Scattered Spider – As a reminder, FINRA recently highlighted a joint Cybersecurity and Infrastructure Security Agency (CISA) and Federal Bureau of Investigation (FBI) Cybersecurity Advisory issued in response to recent activity by the threat actor Scattered Spider. The Advisory notes the social engineering tactics leveraged by Scattered Spider, and effective practices firms may consider to reduce the likelihood and impact of a cyberattack by this threat actor. Questions related to this Alert or other cybersecurity-related topics can be emailed to the CAU.
| | Upcoming Deadlines and Effective Dates SEC Request for Comments
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.
The SEC requests comment on FINRA’s proposed rule change to amend FINRA Rule 2210 (Communications with the Public) to permit, when specified conditions are met, the use of projections of performance or targeted returns in institutional communications and specified communications to qualified purchasers. Comments are due December 15, 2023. See the Federal Register notice.
| | Education and Compliance Programs Register for the next Small Firm Conference Call on Tuesday, December 12, at 4:30 p.m. ET. FINRA Vice President, Member Relations and Education Kayte Toczylowski, will be joined by FINRA senior leaders, Stephanie Dumont, Executive Vice President, Market Regulation and Transparency Services, Bill St. Louis, Executive Vice President, Enforcement, and Greg Ruppert, Executive Vice President, Member Supervision, to discuss regulatory updates, initiatives, and areas of focus for 2024. Registration is open to all member firms.
Register for all of FINRA’s upcoming events: |
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