FIRST is a prototype taxonomy-based rulebook search tool designed by FINRA to make the FINRA rulebook more accessible when searching for relevant information or developing automated compliance functions. FIRST is enabled by a regulatory taxonomy, or a hierarchical classification of key business and regulatory terms, applied, or “tagged,” to a series of key FINRA rules.
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Buying and selling securities is actually very easy, thanks in large part to technology. It almost seems like you’re doing the buying and selling yourself, but a brokerage firm is. Any time you buy or sell securities you typically must first open a brokerage account.
As part of FINRA’s mission to protect investors and promote market integrity, we are focused on addressing the regulatory challenges presented by our member firms’ crypto asset activities. Crypto assets—also known as digital assets—are assets that are issued or transferred using distributed ledger or blockchain technology. They include, but are not limited to, so-called virtual currencies, coins, and tokens. A particular crypto asset may or may not meet the definition of a “security” under the federal securities laws.
A clearing member may use negative response letters to assign orphan accounts to an introducing broker-dealer on the clearing member’s platform.
Dear Ms. Dyer:
I am responding to your letter dated March 10, 2023, as supplemented by conversations with the staff, in which you seek interpretive guidance regarding the use of negative response letters by National Financial Services LLC (“NFS”) to
Summary
FINRA has adopted changes to FINRA Rules 5122 (Private Placements of Securities Issued by Members) and 5123 (Private Placements of Securities) to require members to file retail communications that promote or recommend private placement offerings that are subject to those rules’ filing requirements.1 The new filing requirements become effective on October 1, 2021.
The amended
SUGGESTED ROUTING:*
Senior ManagementInternal AuditLegal & Compliance*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
The Securities and Exchange Commission (SEC or "the Commission") has issued Release No. 34-28927, adopting amendments to Rule 15c3-1 (the "Rule") with respect to withdrawals of net capital. The
FINRA to Require Electronic Submission of Annual Audit Reports
For Your Information
SEC Limit Order Handling Rules Effective January 10, 1997
Nasdaq will be implementing the new SEC Limit Order Handling Rules on January 10, 1997. This will affect all Advanced Computerized Execution System (ACES®) market makers because ACES limit orders will not be linked to the inside market calculation and will not automatically update your quotes.
Specifically, the
SUGGESTED ROUTING
Legal & ComplianceOperationsTrading
Executive Summary
On July 22, 1994, the Securities and Exchange Commission (SEC) approved an NASD rule change that deletes Part IX, Schedule D to the NASD By-Laws. The deleted provision permitted NASD members to access The Nasdaq Stock Market (Nasdaq) in a market-making capacity without subscribing to Level 3 Nasdaq Workstation
