Government Shutdown Information

Regulatory Notice 20-06

Summary

FINRA is updating the text of the Securities Exchange Act (SEA) financial responsibility rules in the Interpretations of Financial and Operational Rules to reflect the effectiveness of a rule change that the Securities and Exchange Commission (SEC) adopted.1 The SEC’s rule change, amending paragraph (e)(1)(i)(A) of SEA Rule 17a-5, relates to a specified exemption with regard to the annual reporting requirement for a broker-dealer whose securities business has been limited to acting as broker (agent) for a single issuer in soliciting subscriptions for securities

Technical Notice

FINRA Termination of CTCI Protocol for Reporting Trades to TRACE and ORF

February 24, 2020

This is a reminder that beginning Monday, March 16, 2020, FINRA will no longer support the reporting of transactions to its TRACE and OTC Reporting Facility (ORF) products via the CTCI protocol.

Any client, including Service Bureaus, that currently utilizes CTCI and wishes to continue to deliver electronic transactions (i.e. not via TRAQS) must migrate to the FIX protocol by Monday, March 16, 2020.

13100. Definitions

Unless otherwise defined in the Code, terms used in the Code and interpretive material, if defined in the FINRA By-Laws, shall have the meaning as defined in the FINRA By-Laws.
(a) Arbitrator and Mediator Portal
The term "Arbitrator and Mediator Portal" means the web-based system that allows invited arbitrators and mediators to access a secure section of FINRA's website to submit documents and information and view their arbitration and mediation case information and document

12900. Fees Due When a Claim Is Filed

(a) Fees for Claims Filed by Customers, Associated Persons and Other Non-Members
(1) Customers, associated persons, and other non-members who file a claim, counterclaim, cross claim or third party claim must pay a filing fee in the amount indicated in the schedule below. The Director may defer payment of all or part of the filing fee on a showing of financial hardship.

12801. Default Proceedings

(a) Applicability of Rule
A claimant may request default proceedings against any respondent that falls within one of the following categories and fails to file an answer within the time provided by the Code:
(1) A member whose membership has been terminated, suspended, canceled, or revoked;
(2) A member that has been expelled or barred from FINRA;

12702. Withdrawal of Claims

(a) Before a claim has been answered by a party, the claimant may withdraw the claim against that party with or without prejudice.
(b) After a claim has been answered by a party, the claimant may only withdraw the claim against that party with prejudice unless:
(1) the panel decides otherwise;
(2) the claimant and that party agree otherwise; or
(3) a customer filed a claim and the party that answered the claim
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