FINRA Rule 2330 (Members’ Responsibilities Regarding Deferred Variable Annuities) establishes sales practice standards regarding recommended purchases and exchanges of deferred variable annuities, including requiring a reasonable belief that the customer has been informed of the various features of annuities (such as surrender charges, potential tax penalties, various fees and costs, and market risk); and, prior to recommending the purchase or exchange of a deferred variable annuity, requiring reasonable efforts to determine the customer’s age, annual income, investment experience, investment objectives, investment time horizon, existing assets and risk tolerance.
SUGGESTED ROUTING*
Internal AuditLegal & ComplianceRegistrationTraining
*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
On March 5, 1990, the NASAA/NASD Central Registration Depository (CRD) began accepting the electronic submission of amendments to page 1 of Form U-4, the Uniform Application for Securities Industry Registration or
During its September 13 and 14 meeting, the FINRA Board of Governors reaffirmed FINRA’s Financial Guiding Principles and continued discussions around FINRA’s Regulatory Operations and received an overview of pending and final regulatory initiatives affecting member firms.
Overview of FINRA Senior Exploitation Rules
The FINRA Senior Exploitation Rules provide firms with the tools to protect senior investors and help firms address risks relating to possible financial exploitation. FINRA Rule 4512 (Customer Account Information) requires firms to make reasonable efforts to obtain the name of and contact information for a trusted contact person upon the opening of a
During its May 17 and 18 meeting, the FINRA Board of Governors appointed new public governor Lisa Fairfax, approved FINRA’s 2022 Annual Financial Report and appointed new members to FINRA Advisory Committees.
The Office of the Ombuds functions independently from other FINRA departments and management. It reports directly to the Audit Committee of FINRA's Board of Governors. The Ombuds provides information to the Audit Committee and executive management — while preserving confidentiality and anonymity — on trends, issues and/or concerns.
As a retail investor, I am concerned about the fairness of the current financial system. Having read many theoretical posts on r/Superstonk about the economy and doing my own research, I believe that more regulation on shorting is necessary in order to avoid the unfair devaluation of companies and protect smaller companies from its effects. In particular, more needs to be done about Fail-to-
Application for Exemptive Relief from Trade Reporting Obligation for Certain Transactions on an Alternative Trading System
TO: All NASD Members and Other Interested Persons
On December 19, 1985, the Securities and Exchange Commission approved a new Article III, Section 41 of the NASD Rules of Fair Practice (SEC Release No. 34-22731). The rule establishes a new requirement for members to maintain a record of their total "short" positions in NASDAQ securities in all customer and proprietary firm accounts and
In observance of Memorial Day, FINRA’s Market Transparency Reporting Systems will be closed on Monday, May 31, 2021. Affected applications include:
Alternative Display Facility (ADF)
OTC Bulletin Board (OTCBB)
Over-the-Counter Reporting Facility (ORF)
Trade Reporting and Compliance Engine (TRACE)
FINRA/Exchange Trade Reporting Facilities (TRFs)
As stated in the data feed
