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FINRA's Small Firm Helpline

June 27, 2018
Volume 26

Upcoming Deadlines and Effective Dates
  • FINRA Request for Comment
  • SEC Request for Comment on FINRA Rules
  • FINRA Elections

Education and Compliance Programs

FINRA has been working on a new CRD system and on Saturday, June 30, we will release its first set of features, which includes Activities, Reports and Quick Links. All broker-dealer firm users and administrators who are entitled to all Queues in Web CRD (now referred to as “classic CRD”) will be systematically entitled to the new CRD features. Broker-dealers will be able to use and manage access to both the new and classic CRD system privileges as FINRA continues to build and refine new CRD features with user feedback. See the New CRD page for more information.

FINRA's Small Firm Helpline—a resource where small firms can get help navigating FINRA's systems and resources—is the latest in a series of actions to enhance support for small firms that FINRA has taken as part of the FINRA360 organizational improvement program. The helpline complements the work of FINRA's Regulatory Coordinators, who are the primary points of contact for firms seeking technical assistance or regulatory information. Firms can reach the helpline staff at (833) 26-FINRA or (833-263-4672).

 Upcoming Deadlines and Effective Dates

FINRA Request for Comment

FINRA has one open request for comment:

  • Regulatory Notice 18-16 seeks comment on proposed rule amendments that would impose additional restrictions on member firms that employ brokers with a history of significant past misconduct. These brokers, while relatively small in number, may present heightened risk of harm to investors, and any misconduct by them also may undermine confidence in the securities markets as a whole. The rule proposals would strengthen the existing controls FINRA has applied to such brokers to further promote investor protection and market integrity. The new proposals are one part of FINRA’s initiatives to confront high-risk brokers. Comments are due June 29, 2018.

SEC Request for Comment on FINRA Rules

  • The SEC requests comment on FINRA’s proposal to amend FINRA Rule 6730 (Transaction Reporting) to require alternative trading systems (ATSs) that report transactions in U.S. Treasury Securities to the Transaction Reporting and Compliance Engine (TRACE) to identify non-FINRA member subscribers on those transaction reports. The comment period expires July 5, 2018. See the Federal Register notice.

FINRA Elections

  • FINRA will conduct a Special Meeting of large firms on Thursday, June 28, 2018, to elect one individual to fill a Large Firm Governor seat on the FINRA Board of Governors (Board). Large firms that are members of FINRA as of the close of business on Friday, June 8, 2018, are eligible to vote in this election. See Election Notice 6/11/18 for details about the special election process and candidates.
  • Petitions for candidacy are due July 9 for the annual meeting of FINRA firms to elect one Large Firm Governor, one Mid-Size Firm Governor, and one Small Firm Governor to the FINRA Board of Governors (FINRA Board). The election meeting will be held on or about Friday, August 17. A formal notice of the meeting, including the precise date, time and location, will be mailed to executive representatives on or about July 19, 2018. Eligible individuals who have not been nominated for election to the FINRA Board by the Nominating Committee may be included on the ballot for the election of governors by following the petition procedures set forth in the By-Laws and as further described in the Election Notice 5/25/18.

 Education and Compliance Programs

Only a few weeks left to register for Week I of the FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP)® Program—delivered at Georgetown University’s McDonough School of Business in Washington, DC. The program comprises two non-consecutive weeklong residential courses, and provides participants a comprehensive core of knowledge on securities regulation and the day-to-day application of those rules and regulations.

Week I: FoundationJuly 22 – 27, 2018
Week II: CapstoneNovember 11 – 16, 2018

Advance preparation is required for the program, so early registration is recommended. Visit our website for additional program information and to register

AML Half-Day Seminars
FINRA's AML Half-Day Seminars provide attendees with information on the fundamentals of money laundering and money laundering typologies, relevant rules and regulations, and monitoring for suspicious activity. The seminars are designed for AML compliance professionals from firms of all sizes who are new to their role, or to those who are looking to reinforce their understanding of regulatory requirements and compliance responsibilities.

FINRA is hosting two AML Half-Day Seminars—each led by managers of FINRA's AML Unit. Visit FINRA's website to learn more and register

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 list of upcoming events being held in the Boca Raton, Chicago, Denver, Dallas, Woodbridge, New Orleans, Kansas City, Los Angeles, and Atlanta districts.

Review the compliance calendar to see a complete list of events that may be in your area.

FINRA is hosting several upcoming Half-Day Compliance Boot Camps across the country, each with different areas of focus. Review the list of upcoming July events, or visit FINRA's website for a full list of FINRA's Compliance Boot Camps and to register.

Upcoming Half-Day Compliance Boot Camps:

  • July 10, 2018 | Chicago, IL
  • July 10, 2018 | Nashville, TN
  • July 12, 2018 | Atlanta, GA
  • July 27, 2018 | Seattle, WA

Also coming up:

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