Any member of FINRA that is also a member of the New York Stock Exchange LLC ("NYSE") ("Dual Member") (including any persons affiliated with such member) may be subject to a fine under Rule 9216(b) with respect to any rule or By-Law provision listed in this Rule that applies to such member or person. However, any Dual Member that was not also a member of NASD as of July 30,
(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
(a) Definitions
(1) Member Private Offering
A "member private offering" means a private placement of unregistered securities issued by a member or a control entity.
(2) Control Entity
A "control entity" means any entity that controls or is under common control with a member, or that is controlled by a member or its associated persons.
(3) Control
The term "control
(a) Requirements for Participation in Certain Public Offerings
No member that has a conflict of interest may participate in a public offering unless the offering complies with subparagraph (1) or (2).
(1) There must be prominent disclosure of the nature of the conflict of interest in the prospectus, offering circular or similar document for the public offering, and one of the following
FINRA is publishing its quarterly OTCBB/OTC Equities High Price Dissemination List for the third quarter of 2019. This updated list of OTC equity securities eligible for trade report dissemination for trades of fewer than 100 shares is effective as of December 20, 2019. To view changes, visit the Daily List: Security Attribute Changes page, select the “Unit of Trades” filter and enter December 19
The Neutral Corner—Volume 4, 2019
Mission Statement
Year End Message
Anatomy of a Securities Mediation: What to Expect, How to Prepare and How to Win (by Jeff Abrams, FINRA Arbitrator and Mediator)
Introducing Previously Undisclosed Documents or Witnesses Under FINRA Rule 12514 (by Danielle Williams and Steeve Encaoua, FINRA Office of Dispute Resolution, Southeast Region)
Maintaining
Executive Summary
FINRA recently held annual elections to fill vacancies on its Regional Committees, Small Firm Advisory Committee (SFAC) and the National Adjudicatory Council (NAC). Additionally, at its December meeting, the FINRA Board of Governors (FINRA Board) also selected individuals to fill several appointed seats on the SFAC and NAC. This Notice lists the individuals recently elected and
Summary
The Securities and Exchange Commission (SEC) approved a rule change to amend FINRA Rule 5130 (Restrictions on the Purchase and Sale of Initial Equity Public Offerings) and FINRA Rule 5131 (New Issue Allocations and Distributions) to modify the rules to enhance regulatory consistency and address unintended operational impediments.1 These changes become effective on January 1,
FINRA has updated the Alternative Display Facility (ADF) User Guide and ADF FIX Specification for Trade Reporting to now include the FINRA/Nasdaq TRF Chicago, IEX (Investors Exchange) and LTSE (Long-Term Stock Exchange).
Each document’s Revision History illustrates these changes and impacted fields.
Questions regarding this notice should be sent to FINRA Product Management or
Summary
This Notice addresses the characteristics of Uniform Transfers to Minors Act (UTMA) and Uniform Gifts to Minors Act (UGMA) accounts (collectively referred to herein as “UTMA/UGMA Accounts”) and the responsibilities of member firms to supervise UTMA/UGMA Accounts.
Questions regarding this Notice should be directed to:
Philip Shaikun, Vice President and Associate General Counsel,
