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Three FINRA Elections to Fill Vacancies on the Regional Committees, SFAC and NAC Are Underway

October 17, 2018
Volume 42

  • Regulatory Notice
disciplinary actions

Disciplinary Actions


Upcoming Deadlines and Effective Dates
  • FINRA Requests for Comment

Education and Compliance Programs

FINRA has added new features to the Financial Professional Gateway (FinPro), a secure online system for current and formerly registered individuals. As of October 11, individuals who have created a FinPro account will receive an email notification whenever a new Form U5 filing is submitted in CRD. FinPro maintains a PDF version of the most recent Form U5 submission for review and download on an individual’s account. Please note that firms are also required to provide registered individuals with a copy of their Form U5 within 30 days. For more information, please visit the Financial Professional Gateway page on

Three FINRA elections to fill vacancies on the Regional Committees, the Small Firm Advisory Committee (SFAC) and the National Adjudicatory Council (NAC) are underway. Ballots for each election are due November 15, 2018. The candidates running for election are listed in the following Election Notices:


Trade Reporting Frequently Asked Questions
FINRA updated the Trade Reporting Frequently Asked Questions.

SEC Approves Rule Change to Modify the Dissemination Protocols for Agency Debt Securities
The Securities and Exchange Commission (SEC) approved a rule change to modify the dissemination protocols for transactions in agency debt securities1 to apply a $5 million dissemination cap uniformly, regardless of the rating assigned to the security. The change will go into effect on November 19, 2018. See Regulatory Notice 18-35.

 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 posted the following disciplinary item on the website this week:

 Upcoming Deadlines and Effective Dates

FINRA Requests for Comments

FINRA has three open requests for comments.

FINRA requests comment from member firms and other interested parties on enhancements to the Securities Industry Continuing Education Program (CE Program) under consideration by the Securities Industry/Regulatory Council on Continuing Education (CE Council). These enhancements include the transition of the Regulatory Element program to a more focused and shorter learning requirement administered annually. The CE Council is also gathering feedback on the current Firm Element program and supporting resources as well as on the overlap of the Firm Element program with other firm training requirements. The program enhancements that are under consideration are published on the CE Council’s website and in Regulatory Notice 18-26. Comments are due November 5, 2018.

FINRA requests comment on a proposal to expand the summary firm data relating to over-the-counter (OTC) equity trading that FINRA publishes on its website by (1) publishing on a one-month delayed basis new monthly aggregate block-size trading data for OTC trades in NMS stocks executed outside an alternative trading system (ATS); (2) publishing aggregate non-ATS volume for all firms, by eliminating the existing de minimis exception; and (3) separately identifying firms’ volume of trading on a single dealer platform (SDP), by requiring firms to use a unique market participant identifier (MPID) when reporting their SDP trades to FINRA. The proposal is described in Regulatory Notice 18-28 and comments are due November 12, 2018.

FINRA released a white paper outlining recent regulatory technology (RegTech) developments within the securities industry and potential opportunities and implications these technologies may have for broker-dealers. FINRA highlights five areas where industry participants have most prominently leveraged RegTech innovations: surveillance and monitoring, customer identification and antimoney laundering compliance, regulatory intelligence, reporting and risk management and investor risk assessment. FINRA has requested comments and feedback from interested parties by November 30, 2018.

 Education and Compliance Programs

Register today for FINRA's upcoming AML Half-Day Seminar, which takes place November 6 in Boca Raton. The seminar is designed for AML compliance professionals from firms of all sizes who are new to their role, or who are looking to reinforce their understanding of regulatory requirements and compliance responsibilities.

Visit FINRA's website to learn more and to register.

Register today for an upcoming Member Forum in your region to engage in key discussions with FINRA staff and industry peers around the future landscape of the financial services industry. There is no cost to attend the forums.

The FINRA Small Firm Conference is sold out and we currently have a waitlist. If you are looking for other educational offerings, register today for the 2019 FINRA Annual Conference—which includes sessions designed specifically for small firms.

The Annual Conference takes place May 15-17, 2019 in Washington, DC. Reduced rates are available for the first 500 in-person registrants before March 29, 2019. Register today.

Equities & Fixed Income Small Firm Compliance Workshop
Tuesday, October 23, 2018
2 p.m. to 4 p.m. ET

FINRA Market Regulation is hosting a free two-hour compliance workshop to discuss regulatory issues impacting small firms that trade in the equities and fixed income markets. Topics include compliance-related areas of concern within the equities and fixed income industries, and changes in FINRA processes, particularly as they relate to small firms. FINRA Market Regulation staff, representing different practice areas, will be available to answer questions.

Participants can attend in-person at FINRA's office at One Liberty Plaza in New York or participate over the phone. Pre-registration is required. 

Register for the workshop.

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 San Francisco and Denver districts. To see a complete list of events that may be in your area, review the compliance calendar.

FINRA is hosting several upcoming Half-Day Compliance Boot Camps across the country, each with different areas of focus. Visit FINRA's website for more information and to register.

Upcoming Half-Day Compliance Boot Camps:

  • October 24 | New York, NY

Also coming up:

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Regulatory Contacts
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