NASD Will No Longer Impose Censures For Some Violations
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SEC Approves Amendments to TRACE Rules and Dissemination Protocols to Disseminate Specified Pool Transactions and SBA-Backed ABS Transactions and to Reduce the Time to Report Such Transactions
FINRA Requests Comment on a Proposal to Amend Rule 3110 (Supervision) to Provide Firms the Option to Conduct Remote Inspections of Offices and Locations That Meet Specified Criteria
Exemptive relief is denied. Although C's employment with Firm X was the result of an "internal reorganization", it did result in C being a new employee with Firm X. Had Firm X's procedures as to new hires been followed, the disclosure of the contribution would have been known before C's transfer from an affiliated entity had been effected, rather than after.
GUIDANCEDirect CommunicationEffective Date: September 30, 2004SUGGESTED ROUTINGKEY TOPICSLegal & ComplianceArbitrationArbitratorsDispute ResolutionExecutive SummaryThe Securities and Exchange Commission has approved new Rule 10334 of the NASD Code of Arbitration Procedure to permit direct communication among arbitrators and the parties to the arbitration (through their counsel)
This proposed rule is like treating people like children. This rule is horrible and restrictive. Bad!! Bad!! Bad!!
<p>For purposes of Rule 2740, securities custodial, clearance and settlement services are not considered bona fide research.</p>
Dear FINRA,
I have no doubt these proposed rule changes are not being taken in order to "protect" the average investor. Instead these rule changes seek to add further restrictions on retail investors in order to protect financial institutions from incuring losses during this period of high volatility. Passing these rule changes would be an injustice to the average American. I
Individual investors oppose the SEC Proposed Rule:
--It is a form of control by the regulators to impose its judgement on investors about investment vehicles that play a key role in risk mitigation.
--It is way to impose barriers to market efficiency.
--There is no reason for further intrusion by the government into capital and investing markets.
--It is unconstitutional.
--Retail investors are
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).
