Regulatory Notice 23-14

Summary

FINRA has amended the requirements relating to Covered Agency Transactions that FINRA originally adopted in 2016. Covered Agency Transactions include (1) To Be Announced  transactions, inclusive of adjustable rate mortgage transactions, (2) Specified Pool Transactions and (3) transactions in Collateralized Mortgage Obligations, issued in conformity with a program of an agency or Government-Sponsored Enterprise, with forward settlement dates, as recapped more fully in this Notice.

FINRA Names Bill St. Louis as New Head of Enforcement

FINRA announced today that it has appointed Bill St. Louis as Head of Enforcement, effective immediately. St. Louis, an Executive Vice President, was most recently head of FINRA’s National Cause and Financial Crimes Detection Program (NCFC). St. Louis will be responsible for the management of approximately 350 enforcement staff in 11 offices across the United States and will report directly to FINRA President and CEO Robert Cook.

SR-FINRA-2023-008

Rule Filing Status:  Approved

Rule change to amend FINRA Rules 1015, 9261, 9341, 9524 and 9830 and Funding Portal Rule 900 to allow for video conference hearings before the Office of Hearing Officers and the National Adjudicatory Council under specified conditions.

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