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One Week Left to Register for FINRA’s Third Small Firm Report

November 20, 2018
Volume 47

  • Notices
disciplinary actions

Disciplinary Actions


Upcoming Deadlines and Effective Dates
  • FINRA Request for Comment

Education and Compliance Programs

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.

Gerri Walsh and Gary Mottola of the FINRA Foundation discuss how to turn some of the myths about millennials and investing into actionable information. Listen to the podcast.

The FINRA Investor Education Foundation announced the recipients of the first annual awards to FINRA Foundation Military Spouse Fellows for outstanding service and dedication to military service members and their families.

Only one week left to register for FINRA’s third Small Firm Report —a free conference call series hosted by senior FINRA leaders. The call takes place Tuesday, November 27 at 3:30 p.m. ET. Senior Vice President Chip Jones will be joined by CEO Robert Cook, SVP for Investor Education Gerri Walsh and Senior Director for Advertising Regulation Amy Sochard to discuss new research on millennial investors and implications for industry, and digital communications and social media compliance.

Register today.



2019 and First Quarter of 2020 Report Filing Due Dates: Annual Audit; FOCUS; Form Custody; Supplemental Statement of Income (SSOI); Supplemental Schedule for Derivatives and Other Off-Balance Sheet Items (OBS); and Supplemental Inventory Schedule (SIS)

To assist members in their financial reporting obligations, FINRA issued Information Notice 11/16/18 to provide the due dates for Annual Audit, Financial and Operational Combined Uniform Single (FOCUS), Form Custody, and supplemental FOCUS Report filings that are due in 2019 or the first quarter of 2020.1 Members are reminded that all such filings submitted to FINRA must be made electronically though FINRA’s Firm Gateway.

FINRA Reminds Firms of Exercise Cut-Off Time for Options Expiring on the Friday After Thanksgiving

The national options exchanges are closing at 1:00 p.m. Eastern Time (ET) on Friday, November 23, 2018 (the Friday after Thanksgiving), which will modify the exercise cut-off time for expiring options. FINRA reminds firms that pursuant to FINRA Rule 2360(b)(23)(A)(viii), if a national options exchange or The Options Clearing Corporation announces a modified time for the close of trading in standardized equity options, then the deadline for an option holder to make a final decision to exercise or not exercise an expiring option will be 1 hour 30 minutes following the time announced for the close of trading on that day instead of the 5:30 p.m. ET deadline. Accordingly, option holders must make a final decision to exercise or not exercise options expiring on November 23, 2018, by 2:30 p.m. ET. See Information Notice 11/20/18.

 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 Request for Comments

FINRA has one open request for comments.

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.

FINRA Elections

FINRA is conducting a Special Election to fill a Small Firm Vacancy on the National Adjudicatory Council. Petitions for candidacy are due December 13, 2018. Any eligible individual who obtains the requisite number of valid petitions may be included as a candidate on the ballot by following the petition procedures set forth in FINRA Regulation’s By-Laws and Election Notice 10/29/18.

Registration Renewal

As a reminder, December 17, 2018, is the payment deadline for Preliminary Statements of registration renewal fees. This annual program simplifies firms' registration renewal process with FINRA and participating regulators by requiring just one payment to FINRA.

See Regulatory Notice 18-37 and visit the 2019 Renewal Program page for details.



 Education and Compliance Programs

The next Options Industry Regulatory Conference takes place Tuesday, December 4, 2018, at 2 p.m. ET. During the meeting, FINRA surveillance and examination staff will discuss regulatory priorities and recent findings. To register, please click on the link below and follow the detailed instructions. You will have a choice of attending in person or telephonically; you must register to obtain a dial in phone number.

Register today.

FINRA is hosting a CTCI migration conference call on Wednesday, Dec. 5, 2018, 2-3 p.m. Eastern Time, to discuss the upcoming migration. Effective Feb. 3, 2020, FIX will be the only protocol supported for reporting trades to FINRA's TRACE and ORF platforms. Register for the call to learn:

  • the steps that firms will need to take to successfully complete the migration;
  • where to find documentation;
  • about network and application testing for direct connections as well as for firms reporting via a service bureau; and
  • where to get support.

The call will be in listen-only mode. Questions may be submitted prior to or during the call to [email protected]

Register today for FINRA’s new RegTech Conference—a forum for regulators, thought leaders and industry practitioners to learn more about the use of RegTech tools, and related opportunities and challenges.

The conference takes place January 17 in New York City. Download the schedule-at-a-glance, which includes the full agenda and session descriptions.

Register early for the Annual Conference, which 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.

Register today for the 2019 FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP)® program— comprised of two weeklong residential courses, which are delivered at Georgetown University's McDonough School of Business in Washington, DC. This program provides an executive educational experience that covers the theory and practical application of securities laws and regulation through intensive instruction, discussion and case studies.

  • Week I • July 21 – 26, 2019
  • Week II • November 17 – 22, 2019

Watch our latest video to learn more about the CRCP® program and get answers to the most frequently asked questions about the program. Visit FINRA's website for additional details and registration information.

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Regulatory Contacts
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