Summary
A key element in any firm’s cybersecurity program is a robust authentication process, i.e., the method that confirms that an authorized user seeking access to a firm’s information technology systems is who they say they are.1 This process typically relies on one or more “factors,” such as a password or personal identification number (PIN) code, to provide the authentication. The
The Market Order Timeliness Statistical Report is published monthly based upon firm-reported data detailing the number of customer market orders executed by your firm in NMS securities and classifying these orders based on time duration to execute. Supplementary Material .01 of FINRA Rule 5310 – Best Execution and Interpositioning - states that member firms must make every effort to execute
When a FINRA member firm plans to undergo a change in business operations it is required to file a Form BD amendment and/or a Continuing Membership pursuant to FINRA Rule 1017(a)(5) depending on the nature of the change.
When contemplating expansions to their business activities, firms must determine whether the proposed expansion (1) represents a material change in business
Firms applying for FINRA membership, with the exception of sole proprietorships, must have at least two registered principals and one Financial and Operations Principal (FinOp), according to the FINRA Rule 1010 Series. Applicant firms, however, may request a waiver or exemption from the two principal requirement in accordance with FINRA Rule 9610 if the firm will be conducting a very limited
To conduct securities transactions and business with the investing public in the United States, both firms and individuals must be registered. Those who wish to become registered must file Form BD (the Uniform Application for Broker-Dealer Registration) with the SEC, appropriate self-regulatory organizations (SROs), including FINRA, and jurisdictions.
Form BD must first be submitted
FINRA requests comment on a concept proposal regarding the application of FINRA rules to security-based swaps (SBS) following the Securities and Exchange Commission’s (SEC) completion of its rulemaking regarding SBS dealers and major SBS participants. Current FINRA Rule 0180, which will expire in September 2021, provides a temporary exception from the application of FINRA rules to SBS, with
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to extend the pilot period related to FINRA Rule 6121.02 (Market-wide Circuit Breakers in NMS Stocks).
Summary
FINRA warns member firms of a widespread, ongoing phishing campaign that involves fraudulent emails purporting to be from FINRA asking member firms to complete a survey (see sample below). The email was sent from the domain “@regulation-finra.org” and was preceded by “info” followed by a number, e.g., [email protected]. FINRA recommends that anyone who clicked on any link or
