(a) Filing Requirements
Each member that sells a security in a non-public offering in reliance on an available exemption from registration under the Securities Act ("private placement") must: (i) submit to FINRA, or have submitted on its behalf by a designated member, a copy of any private placement memorandum, term sheet or other offering document, including any materially amended
Application of Rules on Communications With the Public and Institutional Sales Material and Correspondence to Certain Free Writing Prospectuses
<p>A partnership registering as a broker/dealer, which will be trading only for its own account, has no customers for purposes of Rule 2330(f).</p>
Proposed Rule Change Relating to the Definition of “Reporting Member” in the Order Audit Trail System Rules
Firm X's request for exemption is denied. The Rule imposes a requirement on all firms subject to its provisions to know them and to have in place supervisory procedures to reasonably insure compliance with the Rule. The language of the rule is clear with respect to the limitations imposed on member firms, as distinct from municipal financial professionals. In the instant matter, we cannot conclude that ignorance of the Rule's provisions constitutes reasonable justification or excuse for granting the requested exemption.
Proposed Rule Change to Provide Additional Relief Relating to Certain FINRA/Nasdaq Trade Reporting Facility and OTC Reporting Facility Fees
SUGGESTED ROUTING
Senior Management
Legal & Compliance
Executive Summary
The NASD will soon file its proposed revision of the NASD Manual with the Securities and Exchange Commission (SEC) for approval, which is expected later this year. Following SEC approval, the NASD will direct the Commerce Clearing House and vendors providing electronic versions of the NASD Manual
FINRA member firms should be aware of a supply chain attack leveraging data exfiltrated from Salesloft Drift—a third-party platform that connects the Drift AI chat agent with a Salesforce or Google Workspace instance, among others. The breach described below exposed data that could increase the risk of credential stuffing, spear phishing and social engineering attacks against member firms and their vendors. To date, we are aware of multiple impacted third-party vendors used by FINRA firms. FINRA has notified the member firms who use the affected vendors or Salesloft.
Proposed Rule Change to Update Rule Cross-References and Make Other Various Non-Substantive Technical Changes to FINRA Rules
Proposed Rule Change Relating to Rule 6450 (Restrictions on Access Fees)
