Summary
The Securities and Exchange Commission (SEC) approved1 amendments to FINRA’s customer and industry arbitration rules to expand time for non-parties to respond to arbitration subpoenas and orders of appearance of witnesses or production of documents. The amendments also make related changes to enhance the discovery process for forum users.
The amendments are effective for cases filed on
Remarks From MarketsMedia/Traders Magazine Equity Market Structure Town Hall Forum
Notice of SFAB Election and Ballots
FINRA has replaced the Automated Data Delivery System (ADDS) OTC Reporting Facility Trade Journals (v1.3) document with the FINRA ADDS User Guide v5.0.
By Robert Cook, President and CEO, and Greg Ruppert, Executive Vice President, Member Supervision, FINRA. From 2021 to 2024, the SEC brought enforcement actions against numerous FINRA member firms for recordkeeping violations involving off-channel communications (OCCs) and settled them on substantially similar terms. In January 2025, the SEC brought additional OCC-related actions against other member firms but settled these on significantly less burdensome terms. A group of firms settling before 2025 petitioned the SEC to modify their settlements to align with the January firm settlements. The SEC recently denied this petition.
FINRA is publishing its quarterly OTCBB/OTC Equities High Price Dissemination List for the fourth quarter of 2018.
SEC Approval and Effective Date for New Consolidated FINRA Rule
FINRA's Enforcement Department is conducting a review of broker/dealers that provide Direct Market Access, Naked Access, Electronic Access or Sponsored Access ("DMA") to their customers.
