Summary
FINRA has multiple committees that facilitate effective engagement with its member firms and representatives of the public regarding regulatory and policy initiatives related to FINRA’s mission of promoting market integrity and investor protection in a manner that promotes vibrant capital markets. The purpose of this Notice is to encourage employees of member firms and other interested
TO: All NASD Members and Other Interested Persons
EXECUTIVE SUMMARY
The Department of the Treasury has finalized amendments to the implementing regulations of the Bank Secrecy Act. Also known as the "Currency and Foreign Transactions Reporting Act of 1970," these regulations govern the financial recordkeeping and reporting of currency and foreign transactions. The amendments, which
FINRA is soliciting comment on a concept proposal to establish liquidity risk management requirements. The concept proposal describes a potential rule, labeled Rule 4610, that is intended to ensure that members have sufficient liquid assets to meet their funding needs in both normal and stressed conditions. Broadly, the proposal outlines three areas where a potential rule might address liquidity risk, including liquidity stress testing, contingent funding plans and a requirement to maintain sufficient liquidity on a current basis at all times. FINRA is issuing this concept proposal so that any feedback received can be taken into account as FINRA considers a proposed rule; any proposed rule would need to be reviewed and approved by the FINRA Board of Governors, and then filed with and approved by the Securities and Exchange Commission. FINRA welcomes comment on all aspects of the concept proposal, including comment on alternatives to the proposed approach.
FINRA has taken disciplinary actions against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).
FINRA is a not-for-profit, self-regulatory organization (SRO) dedicated to promoting investor protection and market integrity in a manner that facilitates vibrant capital markets. One of FINRA’s tools for achieving this objective is fair and effective enforcement of our member firms’ compliance with securities laws and regulations.
FINRA’s highest priority when it identifies misconduct is to
FINRA has taken disciplinary actions against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).
INFORMATIONAL
Comment Period Expires: September 6, 2002
SUGGESTED ROUTING
KEY TOPICS
Legal & Compliance
Operations
Registration
Senior Management
Money Laundering Compliance Programs
Executive Summary
On October 26, 2001, President Bush signed into law the USA PATRIOT
SUGGESTED ROUTING
Senior ManagementLegal & ComplianceMutual FundSyndicateTraining
Executive Summary
Article III, Section 26 of the Rules of Fair Practice prohibits members from accepting compensation from an underwriter when selling its mutual fund unless such compensation is disclosed in the fund's prospectus. To the extent investment companies are not providing adequate
SUGGESTED ROUTING*
Legal & ComplianceOperationsRegistrationTraining
*These are suggested departments only. Others may be appropriate for your firm.
The Securities and Exchange Commission recently approved revisions to several of the NASD's qualification examinations. These changes become effective January 1, 1990. The revised examinations include the following:
Investment
FINRA has taken disciplinary actions against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).
