Summary
In August 2019, FINRA launched a retrospective review that, among other things, sought stakeholders’ input on the effectiveness of Rule 3240 (Borrowing from or Lending to Customers).1 Based on feedback received during the review, FINRA is proposing amendments to Rule 3240 to:
emphasize that the rule generally prohibits registered persons from entering into borrowing or
TO: All NASD Members and Other Interested Persons
On June 2, 1983, the Securities and Exchange Commission ("SEC") approved amendments to Schedule E to Article IV, Section 2 of the Association's By-Laws ("Schedule E") which relates to the distribution of members' own securities and those of affiliates. The amendments became effective upon approval and are applicable
GUIDANCE
Sanction Guidelines
SUGGESTED ROUTING
KEY TOPICS
Executive Representatives
Legal & Compliance
Operations
Senior Management
Systems
NASD Sanction Guidelines
Executive Summary
This Notice advises NASD members of modifications to the NASD
Sanction Guidelines (Guidelines). NASD is amending the quality of
markets guidelines and the guidelines for violations of
The Contra Executing Firm 20 Minute Compliance report card is a monthly status report that provides information on transactions in which a firm failed, as the Contra Firm to accept / decline / compare trades within 20 minutes after execution, in apparent violation of FINRA Rules 7230A(b) and/or 7330(b). It provides information about the number of trades that were accepted / declined / compared
(a) A member shall process and forward promptly all information as required by this Rule and applicable SEC rules regarding a security to the beneficial owner (or the beneficial owner's designated investment adviser) if the member carries the account in which the security is held for the beneficial owner and the security is registered in a name other than the name of the beneficial owner.
(
(a) A securities contract that has not been completed by the seller according to its terms may be closed by the buyer not sooner than the third business day following the date delivery was due, in accordance with this Rule.
However, this Rule shall not apply:
(1) where the contract is subject to the “buy-in” requirements of a national securities exchange or a registered clearing agency, in which
Effective Date: Jan. 1, 2024The Financial Industry Regulatory Authority, Inc. ("FINRA") develops and licenses financial services industry-related materials and courses (“CE Licensed Product(s)”) that are made available through FINRA’s online platform (“FinPro”). The use of the CE Licensed Product(s) is conditioned upon the acceptance by you (“End User”), without modification, of these
Each person engaged in the investment banking or securities business of a member shall be registered with FINRA as a representative or principal in each category of registration appropriate to his or her functions and responsibilities as specified in Rule 1220, unless exempt from registration pursuant to Rule 1230. Such person shall not be qualified to function in any registered capacity other
FINRA Reminds Firms of Their Responsibilities Under FINRA Rule 2330 for Recommended Purchases or Exchanges of Deferred Variable Annuities
