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FINRA Large Firm Members Elect Jim Nagengast

July 3, 2018
Volume 27

  • UPC Advisory

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

Education and Compliance Programs

FINRA released the first set of features for the new CRD system this past Saturday, June 30, to broker-dealer firms that participate in the FINRA Entitlement Program. The new CRD system is being built and deployed alongside the existing CRD system (now referred to as “classic CRD”). Upon deployment, FINRA systematically entitled users and administrators with access to all CRD Queues in classic CRD to the new CRD features included with this release. Firms can now access and administer entitlement to both the new and classic CRD systems.

This launch included three key features (Activities, Reports and Quick Links) that will streamline and simplify routine compliance tasks. See the New CRD page for more information.

FINRA large firm members elected Jim Nagengast, Chief Executive Officer (CEO) of Securities America Financial Corporation Inc. and President of Securities America Inc., as a Large-Firm Governor at a special meeting that took place on June 28.
FINRA has released its audited Annual Financial Report, which describes its finances and operations for 2017. With the goal of providing additional transparency, FINRA also published a new interim report on the use of fine monies in 2017. If you want to request a printed copy of the Annual Report be sent to you by mail, please call FINRA MediaSource at (240) 386-4200.

Tune in to the FINRA Unscripted podcast to hear FINRA leaders review existing and emerging regulatory topics that impact the broker-dealer industry, as well as other insights into the operations of FINRA.

Steve Randich, FINRA’s Chief Information Officer, sheds light into how the cloud has revolutionized FINRA Technology. Listen to the podcast.



UPC Advisory
The following UPC Advisory was posted in the last week:

  • UPC #23-18, The Walking Company Holdings, Inc. (WALKQ)

 Upcoming Deadlines and Effective Dates

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 Election

  • 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

July 15 is the registration deadline 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

Also coming up:

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Regulatory Contacts
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