FINRA has resolved the issue with ORF transaction messages delivered via FIX and TRAQS. The issue was caused by a trade processor experiencing systemic disruption, resulting in queueing of transaction reports in certain symbols. All queued messages have been processed, and no further action is needed from firms.
Contact FINRA Market Operations with questions regarding this notice.
Publication Date: February 23, 2023
Interpretations are marked in blue background beneath the rule text to which they relate.
18a-3 Non-cleared security-based swap margin requirements for security-based swap dealers and major security-based swap participants for which there is not a prudential regulator.
18a-3(a) Every security-based swap dealer and major security-based swap participant for
"Complex Products" as FINRA calls them are an extremely important part of the financial system. They allow investors of all sizes to hedge against downside risk and increase upside potentials. Restricting their access would be extremely detrimental to the financial health of the markets and to millions of investors of all sizes.
SEC Approves Consolidated Rule to Address Conflicts of Interest Relating to the Publication and Distribution of Equity Research Reports
Restricting trading strategies is fundamentally unfair. There is no legitimate reason to restrict leveraged or inverse funds. Investors always must assume the risks of their investment choices. Unsophisticated investors may not understand systemic risks, but it does not mean investors should be entirely prohibited from investing altogether.
The Cybersecurity section of the 2017 Report on Exam Findings informs member firms’ compliance programs by describing recent findings and observations from FINRA’s examinations, and, in certain cases, also providing a summary of effective practices.
(a) Reportable TransactionsMembers shall comply with the Rule 7200A Series when reporting transactions to the System, including executions of less than one round lot if those executions are to be compared and locked-in. All trades that are reportable transactions will be processed pursuant to an effective transaction reporting plan. Trades that are not already locked-in trades will be
GUIDANCEUniform Branch Office DefinitionExtension of Effective Date of NASD Uniform Branch Office Definition and Certain Form BR and Form U4 Filing Requirements from May 1, 2006 to July 3, 2006Joint Interpretive Guidance from NASD and the NYSE Relating to Uniform Branch Office Definition Under NASD Rule 3010(g)(2) and NYSE Rule 342.10Effective Date of Uniform Definition:NASD: July 3, 2006; NYSE:
To Whom it May Concern,Thank you for the opportunity to comment on Regulatory Notice 24-13, “Effectiveness and Efficiency of [FINRA] Requirements Relating to Day Trading.” I am a strong believer in the benefits of engaging the community in this way, and sincerely appreciate the authority's time and attention. Over the past 20 years I have worked in the equity options
Web EFT is a secure electronic file transfer application that eliminates the need for firms to manually submit online form filings to Web CRD®.
