INFORMATIONAL
OATS
SUGGESTED ROUTING
KEY TOPICS
Internal Audit
Legal & Compliance
Operations
Senior Management
Order Audit Trail System
Executive Summary
NASD Regulation, Inc. (NASDR) is issuing this Notice to
The Best Execution, Outside Business Activities and Private Securities Transactions, Private Placements, and Reg BI and Form CRS sections of the 2023 Report on FINRA’s Examination and Risk Monitoring Program (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) regulatory obligations and related considerations, (2) findings and effective practices, and (3) additional resources.
TO: All NASD MembersAll Level 2 and Level 3 SubscribersOther Interested Persons
EXECUTIVE SUMMARY
On May 15, 1987, the Midwest Stock Exchange (MSE) will begin trading 25 NASDAQ National Market System (NASDAQ/NMS) securities under the SEC-approved National Association of Securities Dealers/Midwest Stock Exchange joint unlisted trading privileges (UTP) program. This notice explains the operation
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This user guide provides Super Account Administrators (SAAs) and Account Administrators (AAs) with the requirements of the FINRA Entitlement Program and instructions and tips for how to navigate the Account Management System of the FINRA Entitlement Program.i Responsibilities for Managing Account Accessii Best Practices for
Amendments to Incorporated NYSE Rules to Reduce Regulatory Duplication; Effective Date: November 11, 2008
Regulatory Relief
PLEASE NOTE: The FINRA rulebook currently consists of both NASD Rules and certain NYSE Rules that FINRA has incorporated, including the NYSE rules referenced in this Notice. The incorporated NYSE Rules apply solely to members of FINRA that are also members of NYSE on or after July 30, 2007, referred to as "Dual Members." Dual Members also must comply with NASD Rules.
Summary
The Securities and Exchange Commission (SEC) approved a rule change to amend FINRA Rule 5130 (Restrictions on the Purchase and Sale of Initial Equity Public Offerings) and FINRA Rule 5131 (New Issue Allocations and Distributions) to modify the rules to enhance regulatory consistency and address unintended operational impediments.1 These changes become effective on January 1,
Rules 203(b) (Short sales) and 204 (Close-out requirement) of Regulation SHO provide exceptions for bona fide market making activity. The SEC has provided guidance on what constitutes “bona fide market making activities” as well as examples of what does not. Member firms must also confirm and be able to demonstrate that any transaction for which they rely on a Regulation SHO bona fide market making exception qualifies for the exception, consistent with Regulation SHO and guidance.
On behalf of NASD, I would like to thank Chairman Sarbanes, Ranking Member Gramm, and the members of the Senate Banking Committee for this opportunity to testify.
The discovery process allows the parties to obtain facts and information from other parties to the arbitration in order to support their own case and prepare for the hearing.
