As part of FINRA’s mission to protect investors and promote market integrity, we are focused on addressing the regulatory challenges presented by our member firms’ crypto asset activities. Crypto assets—also known as digital assets—are assets that are issued or transferred using distributed ledger or blockchain technology. They include, but are not limited to, so-called virtual currencies, coins, and tokens. A particular crypto asset may or may not meet the definition of a “security” under the federal securities laws.
SUGGESTED ROUTING
Corporate Finance
Legal & Compliance
Syndicate
Training
Executive Summary
On September 29, 1995, the Securities and Exchange Commission (SEC) approved amendments to the Corporate Financing Rule, Article III, Section 44 of the NASD Rules of Fair Practice relating to rights of first refusal. The amendment continues to permit the use of rights of first refusal, but
Comment Period Expires November 30, 1994
SUGGESTED ROUTING
Senior ManagementCorporate FinanceLegal & ComplianceSyndicate
Executive Summary
The NASD is requesting comment on an amendment to its Corporate Financing Rule (the Rule) relating to rights of first refusal granted to underwriters and related persons in connection with the distribution of public offerings. The amendment
Q1. Who can offer or sell securities under Regulation Crowdfunding? A1. Regulation Crowdfunding allows eligible issuers1 to offer and sell securities through the platform of a broker-dealer or funding portal that is both registered with the SEC and a FINRA member (an “intermediary”). This activity must be conducted exclusively through the platform of a single intermediary. A firm cannot act as an intermediary if it is not a registered broker-dealer or a registered funding portal, and is not a member of FINRA.
This data provides aggregate market activity for corporate bonds, agency bonds and 144a bonds (144a bonds are private placement securities subject to SEC Rule144A), using end-of-day data for days the system is open. Data is not available for days the system is closed. Please refer to Systems Calendar. (View the data for multiple days simultaneously here.) Learn more about bonds.
The advances,
SUGGESTED ROUTING
Senior Management
Corporate Finance
Institutional
Legal & Compliance
Municipal
Operations
Systems
Trading
Executive Summary
On April 11, 1994, The Nasdaq Stock Market, Inc., began operation of the Fixed Income Pricing SystemSM (FIPS®) for members trading highyield bonds. FIPS was created to facilitate the over-the-counter (OTC) trading of high
img.snapshot{border:1px solid #cccccc;margin-top:10px;}
.blueButton{
background-color: #1063A0;
color: #fff;
border-radius: 10px;
display: inline;
font-size: 14px;
max-width: 200px;
padding: 15px;
text-align: center;
text-transform: uppercase;
transition: all 0.3s ease-out;
width: calc(100% - 30px);
}
.blueButton a{color:#ffffff}
.Report_TOC{border:
In response to request for comment: Current, licensing requirements for real estate capital transactions (e.g., private debt and equity placements, M&A, and Sales) are too numerous (e.g., SIE, S63, S22, S79, and S82), overlapping, time consuming, and do very little to protect investors (Accredited Investors and Institutions). This is further compounded by additional licensing requirements
The 2025 FINRA Annual Regulatory Oversight Report (the Report) provides member firms with insight into findings from the recent oversight activities of FINRA’s Member Supervision, Market Regulation and Enforcement programs (collectively, regulatory operations programs).
img.snapshot{border:1px solid #cccccc;margin-top:10px;}
.blueButton{
background-color: #1063A0;
color: #fff;
border-radius: 10px;
display: inline;
font-size: 14px;
max-width: 200px;
padding: 15px;
text-align: center;
text-transform: uppercase;
transition: all 0.3s ease-out;
width: calc(100% - 30px);
}
.blueButton a{color:#ffffff}
.Report_TOC{border:
