The Neutral Corner – Volume 4—2023
In accordance with its regulatory responsibilities pursuant to Regulation NMS, FINRA is issuing a pre-quotation notice1 to advise that it plans to certify a new participant to begin using FINRA’s Alternative Display Facility (ADF) for quotation and trading of CTA and UTP listed securities on or after Monday, March 27, 2023, subject to regulatory approval and related announcements.
Once certified
As part of its Transparency Services improvement initiatives, beginning in December 2022, FINRA will re- platform the OTC Reporting Facility (ORF) to a new Linux-based operating system. These changes will be implemented in addition to the Trade Data Dissemination Service (TDDS) protocol changes FINRA previously announced. Except for the timestamp changes listed below, all ORF trade reporting
This video series helps firms currently in the Membership Application Program (MAP) process including those who are considering registering a new broker-dealer firm or filing a continuing membership application. The five short videos outline the various stages of the process and highlight key resources.Membership Application Program - MAP TriageThis video addresses the MAP intake process,
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Firm Violated Reg BI, Excessively Traded, and Churned Numerous Customer Accounts, Including Those of Gold Star FamiliesWASHINGTON—FINRA announced today that it has expelled Monmouth Capital Management for churning and excessively trading customer accounts in violation of Regulation Best Interest (Reg BI), failing to supervise its representatives, and providing false and misleading disclosures to
SUGGESTED ROUTING*
Legal & ComplianceRegistration
*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
The Securities and Exchange Commission (SEC) recently approved two revisions to Form BD, the Uniform Registration Application for Broker-Dealers, under the Securities Exchange Act of 1934. These revisions, which are effective August 1,
On Thursday, March 18th, FINRA will conduct the first of its planned updates related to OATS retirement. During the call, FINRA staff will provide an update to the industry related to the OATS retirement efforts, including an overview of the related rule filing, status on the required accuracy and reliability standards that must be met before OATS can be retired, and a look ahead at
The right of investors to elect to put their hard earned money into inverse or leveraged ETFs should not be impeded through regulation. The issuers of the ETFs should be required to provide sufficient information to the investor regarding the potential risks of an investment in their ETF; however, the final decision should be up to the individual investor. Cryptocurrencies, lotteries and casino
