ACTION REQUIRED
Fee-Based Compensation
SUGGESTED ROUTING
KEY TOPICS
Legal and Compliance
Registered Representatives
Senior Management
Charges for Services Performed
Fee-Based Compensation
NASD Rule 2110
NASD Rule 2430
Executive Summary
Fee-based programs typically charge a customer a fixed fee or percentage of assets
<p>Direct payments of securities-based compensation by a member to the associated persons of another member are not permitted under NASD Rules 2820(g) and 2830(l) absent an SEC No-action letter or interpretive release. Further, proposed arrangement may require dual registration of associated persons.</p>
<p>Direct payments of securities-based compensation by a member to the associated persons of another member are not permitted under NASD Rules 2820(g) and 2830(l) absent an SEC No-action letter or interpretive release. Further, proposed arrangement may require dual registration of associated persons.</p>
The purpose of this Election Notice is to distribute to FINRA Small Firm members1 ballots to elect the five regional members of the Small Firm Advisory Board (SFAB). The SFAB provides guidance to FINRA staff, particularly regarding the potential impact of proposed regulatory initiatives on FINRA's Small Firm members.
Firms are urged to vote in this election. For a ballot to be considered
SEC Approves Rule Governing Sales of Securities on Military Installations to Members of the U.S. Armed Forces or Their Dependents
IMPORTANT
PLEASE DIRECT THIS NOTICE TO ALL SALES, COMPLIANCE AND CREDIT
TO: All NASD Members and Other Interested Persons
In Notice to Members 84-69, dated December 18, 1984, the NASD apprised the membership that the Comptroller of the Currency had issued notices concerning certain direct obligations that either may be worthless or have not been honored by a number of offshore bank licenses
Summary
To bring attention to a rising trend in the fraudulent transfer of customer accounts through the Automated Customer Account Transfer Service (ACATS), FINRA issued Regulatory Notice 22-21, which alerted member firms about how bad actors effect fraudulent transfers of customer assets using ACATS (referred to as ACATS fraud). That Notice listed several existing regulatory obligations that
FINRA Reminds Firms of Their Obligations Regarding the Supervision of Registered Persons Using Senior Designations
Under FINRA rules, industry parties must pay arbitration awards within 30 days or face suspension by FINRA.
Following the consolidation of NASD and NYSE Regulation into FINRA, FINRA established a process to develop a new consolidated rulebook, which is outlined in this Notice. The new FINRA Rules will apply to all FINRA members and will be proposed in phases to the SEC. As rules approved by the SEC become effective, they will replace the existing NASD Rules and incorporated New York Stock Exchange (
