To conduct securities transactions and business with the investing public in the United States, both firms and individuals must be registered. Those who wish to become registered must file Form BD (the Uniform Application for Broker-Dealer Registration) with the SEC, appropriate self-regulatory organizations (SROs), including FINRA, and jurisdictions.
Form BD must first be submitted
FINRA is providing a template as an optional tool to assist small introducing firms in fulfilling their obligations under FINRA Rule 4370 (Business Continuity Plans and Emergency Contact Information).
Firm Made Misrepresentations to Customers and Violated Reg BI as well as FINRA’s Suitability and Supervision RulesWASHINGTON—FINRA announced today that it has expelled broker-dealer SW Financial for multiple violations, including making misrepresentations to customers in its sales of private placement offerings of pre-initial public offering (pre-IPO) securities, churning customer
Summary
FINRA is adding two new Rule 4530 Problem Codes related to SEC Regulation Best Interest (Reg BI) and Form CRS, and making related amendments to the existing Rule 4530 Problem Code related to suitability. Starting on July 18, 2020, firms can use new Problem Code 16–Reg BI and new Problem Code 17–Form CRS, when applicable, to report customer complaint information and required documents
The Variable Annuities section 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.
Comment Period Expires September 13, 1999
SUGGESTED ROUTING
Senior Management
Advertising
Continuing Education
Corporate Finance
Executive Representatives
Government Securities
Institutional
Insurance
Internal Audit
Legal & Compliance
Municipal
Mutual Fund
Operations
Options
Registered Representatives
Registration
Research
Syndicate
Systems
Variable Contracts
Executive Summary
FINRA Updates Supplemental Statement of Income
Changes to Customer Complaint Reporting Procedures Under NASD Rule 3070(c) and NYSE Rule 351(d)
Supervision Frequently Asked Questions (FAQ)
SUGGESTED ROUTING*
Senior ManagementLegal & ComplianceOperationsSystemsTrading
*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
As previously reported in Notice To Members 88-104, the NASD, beginning February 12, 1989, will require its members to respond to requests for trading data using an automated format. The format is consistent
