FINRA Addresses Firms’ Retail Foreign Currency Exchange Activities
GUIDANCE
SUGGESTED ROUTINGKEY TOPICS
Internal AuditLegal & ComplianceOperationsSenior ManagementSystemsTrading
IM-2110-2Limit OrdersLimit Order ProtectionManning RuleRule 6541
Trading Ahead of Customer Limit Orders
Executive Summary
On February 26, 2007, the Securities and Exchange Commission (SEC) approved amendments to Interpretive Material (IM) 2110-2, Trading Ahead of Customer
NASDR has filed with the SEC a proposed rule change to amend Rule 2860(b) of the National Association of Securities Dealers, Inc. to: (1) increase the position limits on conventional equity options to three times the basic position limits for standardized equity options on the same security; (2) disaggregate conventional equity options from standardized equity options and FLEX Equity Options for
Dear FINRA,
I am an RIA with a CFF certification and I am opposed to this. The proposed rule would put regulators in charge of my clients' funds. As a 12 year industry veteran, I understand the risks involved with these investments; consequently, any client considering these investments (which is rare, I might add) is *well aware* of the risks involved. Please consider not adding
Exemptive relief is denied based on: Firm D was subject to a ban that was discernible via a review of publicly available Forms G-37 which disclosed that a PAC controlled by Firm D or a Firm D MFP made political contributions to the Issuer Officials; Firm D had a long history of making contributions to the Issuer Officials; the ban attached to Firm A upon completion of the acquisition of Firm D; neither Firm A nor Firm D attempted to obtain refunds of the contributions; Firm A’s proposed supervisory systems are not adequate to address regulatory concerns presented.
The FINRA qualification and registration requirements are set forth in FINRA Rules 1210 through 1240.1 These rules, among other things: (1) require the registration of individuals as representatives or principals; (2) allow for the permissive registration of associated persons of firms; (3) establish a waiver program for individuals working for a financial services industry affiliate of a member
SUGGESTED ROUTING
Senior Management
Internal Audit
Legal & Compliance
Municipal
Training
Executive Summary
Under SEC approved procedures, NASD Regulation, Inc. (NASD RegulationSM) reviews member requests for exemption from the two-year prohibition of municipal securities underwriting business contained in Rule G-37 (Rule) of the Municipal Securities Rulemaking
SUGGESTED ROUTING
Corporate Finance
Legal & Compliance
Operations
Syndicate
Trading
Executive Summary
On June 27, 1997, the Securities and Exchange Commission (SEC) approved amendments to NASD® Rules 4611(d) and 4612(g) with regard to market maker registration and Primary Market Maker (PMM) eligibility by managers and co-managers of secondary offerings.
It appears that the violation of the Rule, as described in your letter, relates directly to the failure of the firm to develop and institute procedures reasonably designed to ensure compliance of the Rule i.e., for the review and approval of political contributions by a municipal finance professional prior to making the contribution. Accordingly, the firm's request for an exemption is denied.
Comment Period Expires: April 30, 1997
SUGGESTED ROUTING
Senior Management
Legal & Compliance
Operations
Training
Executive Summary
NASD Regulation, Inc. (NASD RegulationSM) requests comment on new NASD® Rule 3121 that would govern a member's use and release of customer
