Guidance
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1. My firm filed with the Advertising Regulation Department a retail communication that promotes or recommends a private placement subject to the filing requirements of FINRA Rules 5122 or 5123. Do we now need to file the same communication with the Corporate Financing Department?
Background
Examinations are central to FINRA's regulatory operations, and they are one of the principal means by which the organization protects investors and promotes market integrity. FINRA's examinations also aim to provide valuable feedback to firms on areas for improvement and best practices based on insights we have gathered from examining others in the industry.
The Underwriter Financial Status Report is a monthly report designed to help firms evaluate the timeliness of financial disclosures made to EMMA, for issuances previously brought to market.
The purpose of this report is to highlights issuances lacking current audited financial filings (LCF) and the lateness of these missing financial filings, based on their anticipated filing time line.
The report offers two alternate views:
Background
In March 2017, FINRA's Board of Governors established a new standing committee, the Regulatory Operations Oversight Committee (ROOC), to advise and assist the Board in providing oversight on FINRA's regulatory operations, and supplementing FINRA's broader self-evaluation through FINRA360. This includes providing guidance on the full breadth of FINRA's regulatory operations, including Member Supervision, Market Regulation and Enforcement, among others. The ROOC does not engage in discussions regarding individual enforcement matters.
Regulatory Obligations
Exchange Act Rule 15c3-3 (Customer Protection Rule) requires firms that maintain custody of customer securities and safeguard customer cash to segregate these assets from the firm’s proprietary business.
The Sales Practice Complaint Report is a quarterly report that displays trends in complaints with Sales Practice problem codes as reported to FINRA pursuant to FINRA Rule 4530. Note: prior to July 1, 2011, this report showed complaints reported pursuant to NASD Rule 3070(c) or NYSE Rule 351(d). For the purposes of the report, Sales Practice Complaints are evaluated against the number of representatives registered with the firm and the sales revenue of the firm.
The Financial Crimes Spotlight is a free webinar series hosted by FINRA’s Financial Intelligence Unit that focuses on how to detect and protect against emerging financial crimes and cyber-related threats and trends.
These events are open to FINRA member firms only. Participants must provide their firm's broker-dealer number when registering.
Upcoming Webinars
There are no upcoming webinars scheduled at this time.
FINRA has made a number of changes in the area of regulatory policy to improve the policy development process and better ensure that our rules reflect current industry dynamics.
In Regulatory Notice 23-17, FINRA announced its decision, effective November 30, 2023, to discontinue collecting INSITE data, pursuant to Rule 4540, at this time. As a result, effective November 30, 2023, the Customer Debits Report was retired from the FINRA Report Center.