Staff in FINRA’s Regulatory Review and Disclosure unit must review and approve all proposed names for firms applying for FINRA membership, a Broker Dealer or Funding Portal designation; and for current FINRA member firms seeking a name change. A firm may reserve a name by submitting a complete Firm Name Reservation Request Form. If the requested name(s) include the words “Adviser” or “Advisor,”
Executive Summary
NASD Regulation, Inc. (NASD RegulationSM) again reminds members of their reporting obligations under Municipal Securities Rulemaking Board (MSRB) Rules G-37 and G-38. Members are required to submit Form G-37/G-38 to the MSRB within 30 calendar days after the end of each calendar quarter if any one of the following occurred during the reporting period: reportable political
FINRA Provides Guidance on Disclosure of Fees in Communications Concerning Retail Brokerage Accounts and Individual Retirement Accounts
FINRA has adopted a short-form membership application process for certain firms that must become FINRA members due to the recent amendments to Rule 15b9-1 of the Securities Exchange Act of 1934. Firms that are eligible for the short-form membership application process also must have been a member of a national securities exchange with which FINRA has had a regulatory services agreement for the 12-month period prior to August 23, 2023. FINRA has further adopted a partial waiver of the new membership application fee for those firms that apply for FINRA membership through the short-form membership application process. These rule changes became effective on October 30, 2023.
SEC Approves Amendments to Rule 6440 Relating to Trading and Quotation Halts in OTC Equity Securities
FINRA Rule 4111(b) requires the Department of Member Supervision (Department) to calculate annually a member firm’s "Preliminary Identification Metrics" to determine whether the firm meets the "Preliminary Criteria for Identification."1 A key driver of that is whether a member firm’s Preliminary Identification Metrics meet quantitative, risk-based "Preliminary
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Every day at FINRA, we protect investors from misconduct, stop fraud and provide restitution to harmed customers. And we are successful—in part because customers and other members of the public provide information and crucial evidence during the course of an investigation.
FINRA Requests Comment on Proposed Limited Safe Harbor From FINRA Equity and Debt Research Rules for Desk Commentary
TO: All NASD Members and Other Interested Persons
SUMMARY
Recently, in response to a request by the Association, the staff of the SEC's Division of Market Regulation issued a no-action letter concerning 17 C.F.R. 240.15c3-l (the "net capital rule") and 17 C.F.R. 240.15c3-3 (the "customer protection rule"). The letter provides, until December 31, 1983, a temporary
