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FINRA’s Board of Governors to Convene This Week in New York

December 4, 2019
Volume 49


  • New FAQ

Upcoming Deadlines and Effective Dates
  • FINRA Request for Comment
  • SEC Requests for Comment
  • Renewals

Education and Compliance Programs

This week, FINRA’s Board of Governors will convene in New York for its final meeting of 2019. Throughout the two days, the Board will review two rulemaking proposals and receive updates on multiple operational initiatives—including the transformation of FINRA’s examination and risk-monitoring program, and FINRA CAT’s role as the plan processor for the Consolidated Audit Trail (CAT). In addition, as is customary at the December meeting, the Board will devote a portion of the agenda to discussing FINRA’s finances and other long-term planning.

Introducing FINRA’s newest E-Learning course: Financial Exploitation of Senior and Vulnerable Adults. This course is designed to help registered representatives understand their responsibilities in protecting senior and vulnerable adult clients from financial exploitation. Scenarios demonstrate the importance of recognizing and escalating respective red flags, and highlight specific rules and regulations that can help registered representatives fulfill their responsibilities to safeguard their clients from financial abuse. Visit to learn how to add this course—or any of FINRA’s 100-plus e-learning courses—directly to your firm’s learning management system or access this course through an authorized training provider. Note that many of FINRA’s e-learning courses are now available for CFP credit.

FINRA expands transparency of OTC equity trading volume. Beginning this week, FINRA is expanding its ongoing transparency initiative for the over-the-counter (OTC) equity market by publishing new data about OTC trading volume occurring outside of alternative trading systems (ATSs). The data is available free of charge on FINRA’s website.

Voices from the Buildathon. On November 8, FINRA, Deloitte and the MIT Fintech Club kicked off an innovative event aimed at leveraging fintech in service of making investors smarter and safer. See how this event came to life and hear the stories of those who participated on our website.


Register today for the South Region Member Forum on January 23, 2020 in Hollywood, Florida. This one-day event is designed to provide financial professionals associated with FINRA member firms in the South region the opportunity to engage in key discussions with FINRA staff, and connect with industry leaders and peers.


FINRA Rule 3230 (Telemarketing) Frequently Asked Questions

FINRA has published Rule 3230 Frequently Asked Questions to aid member firms.

 Upcoming Deadlines and Effective Dates

FINRA Request for Comment

Registered Person Being Named a Customer’s Beneficiary or Holding a Position of Trust
FINRA has issued Regulatory Notice 19-36 to request comment on a proposal to limit a registered person from being named a customer’s beneficiary or holding a position of trust on behalf of a customer. The proposed rule would require the member firm with which the registered person is associated to review and approve the registered person assuming such status or acting in such capacity. The proposed rule would not apply where the customer is a member of the registered person’s “immediate family.” Comments are due by January 10, 2020.

SEC Requests for Comment

The SEC requests comment on FINRA’s proposal to amend FINRA Rule 6750 (Dissemination of Transaction Information) to provide that FINRA may publish or distribute weekly aggregated transaction information and statistics on U.S. Treasury Securities. The comment period expires December 11, 2019. See the Federal Register notice.

The SEC requests comment on FINRA’s proposal to amend Rules 12100, 12202, 12214, 12309, 12400, 12601, 12702, 12801, and 12900 of the Code of Arbitration Procedure for Customer Disputes to expand a customer’s options to withdraw an arbitration claim if a member or an associated person becomes inactive before a claim is filed or during a pending arbitration. In addition, the proposed amendments would allow customers to amend pleadings, postpone hearings, request default proceedings and receive a refund of filing fees in these situations. The comment period expires December 13, 2019. See the Federal Register notice.


Broker-Dealer, Investment Adviser Firm, Agent and Investment Adviser Representative, and Branch Renewals for 2020
The 2020 Renewal Program began November 11, 2019, when FINRA made the Preliminary Statements available to all firms in E-Bill. As described in Regulatory Notice 19-35, the payment deadline is December 16, 2019.


 Education and Compliance Programs

Register today for FINRA's 2020 Cybersecurity Conference on January 14 in New York, NY. This one-day event helps you stay current on today's cybersecurity challenges and the ways in which organizations can understand vulnerabilities and threats, and create resilience against cyberattacks. View the conference agenda for more information.

Reserve your spot at FINRA’s premier event! Register today to receive reduced conference registration rates for the 2020 Annual Conference on May 12–14 in Washington, DC.

Registration is now open for the 2020 FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP) program. Take advantage of our new reduced group rates when you register two or more employees at the same time. Visit our web page for more information.

Save the Date for these upcoming FINRA events:

  • North Region Member Forum | February 12, 2020 | Boston, MA
  • Small Firm Conference | October 14–15, 2020 | Santa Monica, CA

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