FINRA’s Board of Governors held its fifth and final meeting of the year on December 6-7. During the meeting, the Board approved two rule proposals and FINRA’s 2024 proposed budget , and continued discussions around FINRA’s financials, including expenses and the drawdown of reserves. The Board also appointed new members to the National Adjudicatory Council (NAC) and the Small Firm Advisory Committee (SFAC), and previewed the 2024 FINRA Annual Regulatory Oversight Report.
SUGGESTED ROUTING*
Legal & Compliance
Mutual Fund
*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
The Securities and Exchange Commission recently approved an amendment to Article 111, Section 35 of the NASD Rules of Fair Practice. The amendment
SUGGESTED ROUTING*
Senior Management
Legal & Compliance
Mutual Fund
Trading
*These are suggested departments only. Others may be appropriate for your firm.
IMPORTANT MAIL VOTE
EXECUTIVE SUMMARY
The NASD invites members to vote on a proposed amendment to Article III, Section
TO: All NASD Members and Municipal Securities Bank Dealers
ATTN: All Operations Personnel
Securities markets and the NASDAQ System will be closed on Good Friday, March 28, 1986. "Regular-way" transactions made on the business days immediately preceding that day will be subject to the following schedule.
Trade Date-Settlement Date Schedule For "Regular-Way" Transactions
It’s important to keep your guard up and educate yourself about the red flags of fraud and how to protect yourself. Learning to recognize scammers’ techniques can be your best defense.
SEC Approves Amendments to the FINRA Rule 9550 Series Governing Expedited Proceedings
At any time after the Office of Hearing Officers serves the Respondent (or counsel representing the Respondent, or other person authorized to represent others under Rule 9141, when counsel or other person authorized to represent others under Rule 9141 agrees to accept service for the Respondent) with a temporary or permanent cease and desist order, a Party may apply to the Hearing Panel to
Proposed Consolidated FINRA Rules Governing FINRA’s Membership Application Proceedings
Prospective FINRA member firms must seek approval for new FINRA membership through the submission of a New Membership Application (NMA or Form NMA) in accordance with FINRA Rule 1013 (New Member Application and Interview). Existing FINRA member firms that are contemplating a material change in ownership, control, or business operations must submit a Continuing Membership Application (CMA or Form CMA) in accordance with FINRA Rule 1017 (Application for Approval of Change in Ownership, Control, or Business Operations). Both types of applications are reviewed by FINRA’s Membership Application Program (MAP) Group.
• Extended Hours Trading Risk Disclosure—Failure to Comply With Rule Requirements
• Anti-Intimidation/Coordination—Failure to Comply With Rule Requirements
• Backing Away
• Best Execution—Failure to Comply With Requirements for Best Execution
• ECN Display Rule—Failure to Comply
