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Q: Are members that provide FINRA an electronic feed (“eFeed”) of account transaction and position data via secure file transfer protocol (SFTP) for the accounts of FINRA employees also required to send duplicate account statements to FINRA under Rule 2070(a)? NEW
Background
A large number of registered representatives are also Certified Financial PlannerTM (CFP®) professionals. These professionals must complete a minimum of 30 continuing education (CE) hours every two years as part of the requirements for CFP certification renewal. Through the FINRA360 process, a number of firms expressed a desire for improved opportunities with regard to continuing education credits.
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General
Q100.1: What is the Trading Activity Fee?
Background
FINRA’s highest priority when it identifies misconduct is to seek restitution for harmed investors. However, like many other self-regulatory organizations in the securities industry, FINRA also imposes fines on its members to discourage further misconduct. Fine amounts are based on public, pre-established guidelines and the facts and circumstances of the individual case. FINRA does not target any minimum amount of fines to be collected.
The Reporting Firm 10 Second Compliance Report Card are monthly status reports for market participant that contain counts of properly modified late trades, late trades that were not modified, and improperly modified trades.
Reporting Firm is defined as the firm that reported the Executing Party of the trade.