My investment experience has been limited to the last few years, so I can’t pretend to have a comprehensive understanding of every law, rule, guideline, parameter, and standard operating procedure that financial institutions operate in accordance with. However, I can say with certainty that neither do major financial institutions responsible for the behavior of our markets. If the role of a
Beginning May 15, 2023, as described in Regulatory Notice 22-12, members must report transactions in TRACE Corporate securities which are part of a portfolio trade with an appropriate modifier. The Sale Condition 4 modifier, available via the TRAQS secure web browser and the TRACE FIX protocol (Tag 22004), will be available for this designation.
The TRAQS User Guide, TRACE FIX, and TRACE ATDS,
(a) Daily Reports to Newspapers
Reports for regular public release, such as a list of closing quotations or market summary information for newspaper publication, shall be produced in a format acceptable to most publishers without charge. Should such information be transmitted to another location at the request of any firm, a charge may be imposed for such services by FINRA or FINRA Regulation
SUGGESTED ROUTING:*
Senior ManagementLegal & ComplianceOperationsSyndicateTradingTraining*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
The Securities and Exchange Commission (SEC) recently adopted seven rules ("Rules") under the Securities Exchange Act of 1934 requiring broker/dealers engaging in certain recommended
I am pleased to be able to participate in these important public hearings on micro-cap stock fraud. As head of NASD Regulation’s Enforcement Department, my staff and I have had numerous opportunities to work with Andrew Kandel and the fine staff of the New York Attorney General’s Bureau of Investor Protection & Securities.
By FINRA Departments of Member Supervision and Enforcement
A call to FINRA’s Senior Helpline resulted in $3.4 million returned to approximately 300 customers.
In 1996, the Santa Rosa Bay Bridge Authority in Milton, Fla. issued bonds to raise capital for the construction of a bridge. Fast forward about 25 years to February 2021: A customer contacted FINRA’s Senior Helpline, concerned that he had
Short selling and rehypothecation has been used to the detriment of retail investors and is threatening to destroy the entire market structure if left unchecked. Stricter reporting of positions, including naked shorts should be happening already. Brokerage firms, market makers, and other financial institutions were never meant to have as much control over the financial markets as they currently
FINRA Compliance Workshops are informal, interactive learning opportunities that provide 2 – 3 hours of in-depth educational content on key compliance topics. Workshops are designed to provide industry practitioners the opportunity to learn from and engage with FINRA staff and subject matter experts and peers in a small group setting.There are no scheduled workshops at this time.
In observance of Juneteenth, FINRA’s Market Transparency Reporting Systems will be closed on Monday, June 19, 2023. Affected applications include:
Alternative Display Facility (ADF)
Over-the-Counter Reporting Facility (ORF)
Trade Reporting and Compliance Engine (TRACE)
FINRA/Exchange Trade Reporting Facilities (TRFs)
As stated in the data feed interface specifications, FINRA may send out
Since 2018, FINRA’s and the Municipal Securities Rulemaking Board’s (MSRB) amendments to FINRA Rule 2232 (Customer Confirmations) and MSRB Rule G-15 have required firms to provide additional transaction-related information to retail customers for certain trades in corporate, agency and municipal debt securities (other than municipal fund securities).
