Regulatory Notice 19-37

Summary

The Securities and Exchange Commission (SEC) approved a rule change to amend FINRA Rule 5130 (Restrictions on the Purchase and Sale of Initial Equity Public Offerings) and FINRA Rule 5131 (New Issue Allocations and Distributions) to modify the rules to enhance regulatory consistency and address unintended operational impediments.1 These changes become effective on January 1, 2020.

The text of the amended rules is set forth in Attachment A.

Questions regarding this Notice should be directed to:

2016051493704 Jorge A. Reyes CRD 4256834 Extended Hearing Panel Decision va (2020-1579306777038).pdf

FINANCIAL INDUSTRY REGULATORY AUTHORITY OFFICE OF HEARING OFFICERS DEPARTMENT OF ENFORCEMENT, Complainant, v. JORGE A. REYES (CRD No. 4256834), Respondent. Disciplinary Proceeding No. 2016051493704 Hearing Officer-DW EXTENDED HEARING PANEL DECISION December 17, 2019 Respondent Jorge Reyes willfully defrauded investors in connection with nearly $4 million in investments in three private placement offerings and
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