TO: All NASD Members
ATTENTION: Officers, Partners, and Proprietors
BACKGROUND
On September 3, 1982, President Reagan signed into law the Tax Equity and Fiscal Responsibility Act of 1982 ("TEFRA" or the "Act"). The purpose of the law was to raise nearly $100 billion in additional federal revenues through targeted tax increases and reform measures designed to improve taxpayer
The Outside Business Activities and Private Securities Transactions topic of the 2024 FINRA Annual Regulatory Oversight Report (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) regulatory obligations and related considerations, (2) findings and effective practices, and (3) additional resources.
Summary
Last year, FINRA took several steps to engage with members regarding their current and planned activities relating to digital assets. These efforts included the issuance of Regulatory Notice 18-20, which encouraged firms to keep their Regulatory Coordinator informed if the firm, or its associated persons or affiliates, engaged, or intended to engage, in activities related to digital
As a result of a recent review of gift and gratuity practices of over 40 member firms, NASD staff is concerned that members may not be fulfilling their obligations to comply with, and establish adequate supervisory systems and procedures reasonably designed to achieve compliance with, NASD’s rule governing gifts and gratuities – Conduct Rule 3060 (the “gift rule”). Rule 3060 prohibits
(a) When and How Transactions are Reported(1) OTC Reporting Facility Participants shall, as soon as practicable but no later than 10 seconds after execution, transmit to the OTC Reporting Facility, or if the OTC Reporting Facility is unavailable due to system or transmission failure, by telephone to the Operations Department, last sale reports of transactions in OTC Equity Securities executed
New S901 Regulatory Element Continuing Education Program
Thé government has no right to tell hard working Americans how they can invest their money. It did not work for it. These rules would block access for the average person to invest in companies that would bring them revenue. A risk is a risk. Everyday you walk across the street you take a risk. Its the for some anonymous government official to decide where and how people invest. This is outrageous
You should do more to educate people on our modern financial system instead of taking away their ability to invest how they see fit. It's not your concern how or why I invest my money. If Nancy Pelosi and other politicians can participate in stock market trades all while making laws that affect company stock price, then I should be able to decide how I want to invest my dollar.
Do you
This is an unacceptable overreach. The job if the SEC is to make sure investment products are honest, legitimate investment opportunities. It is not the job of the SEC to pick and choose the people who will have access. This is the USA. It's supposed to be synonymous with personal liberty. The whole certified investor system should be trashed. It's elitist is the worst possible
No member shall publish or circulate, or cause to be published or circulated, any notice, circular, advertisement, newspaper article, investment service, or communication of any kind which purports to report any transaction as a purchase or sale of any security unless such member believes that such transaction was a bona fide purchase or sale of such security; or which purports to quote the
