Amendments to FINRA Trade Reporting and OATS Rules to Reinstitute Short Sale Exempt Marking and to Require Price and Short Exempt Identifier on Route Reports
Comment Period Expires: April 30, 1997
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NASD Regulation, Inc. (NASD RegulationSM) requests comment on new NASD® Rule 2460 that would restrict the payment of "finders" or referral fees by NASD members to unregistered third parties for the referral
FINRA Requests Comment on the Effectiveness and Efficiency of Its Rules on Outside Business Activities and Private Securities Transactions
It appears that the violation of the rule described in your letter related directly to the failure of Firm X to adopt procedures to review for political contributions prior to offering employment. Therefore, we cannot conclude that Firm X has demonstrated reasonable justification or excuse for granting the requested exemption. Accordingly, Firm X's request for an exemption is denied.
Proposed Rule Change to Amend Section 4(c) of Schedule A to the FINRA By-Laws
FINRA has taken disciplinary actions against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).
Q1. My firm has been granted an exemption from both the recording and reporting requirements of the OATS Rules and does not currently have an obligation to report to OATS. Does my firm’s OATS exemption extend to the Consolidated Audit Trail (“CAT”) recording and reporting requirements?
A1. No. Neither SEC Rule 613 nor the CAT NMS Plan provide exemptive relief to any class of broker-dealers. As
FINRA Issues Guidance on the Enhanced Confirmation Disclosure Requirements in Rule 2232 for Corporate and Agency Debt Securities
