Regulatory Obligations
FINRA Rule 2090 (Know Your Customer) requires member firms and their associated persons to use reasonable diligence to determine the “essential facts” about every customer and “the authority of each person acting on behalf of such customer.” Regulatory Notice 11-02 (SEC Approves Consolidated FINRA Rules Governing Know-Your-Customer and Suitability Obligations) advised that
To assist firms in making the transition to the Form BR, NASD used data previously filed on Schedule E, the NYSE Branch Office Application Form, and/or state branch office forms to create a branch record on the Web CRD system for all existing branch offices. The data used was the data on file in Web CRD as of close of business, Friday, October 14, 2005.Firms had until July 3, 2006, to comply with
All applications shall be in writing, and shall specify in reasonable detail the nature of and basis for the redress requested. If the application consists of several allegations, each allegation shall be stated separately. All applications must be signed and shall be directed to FINRA's Office of Hearing Officers relating to automated quotation, execution or communications system owned or
The purpose of this Rule 9700 Series is to provide, where justified, redress for persons aggrieved by the operations of any automated quotation, execution, or communication system owned or operated by FINRA, or FINRA Regulation, and approved by the SEC, not otherwise provided for by the FINRA rules.
Amended by SR-FINRA-2015-034 eff. Dec. 20, 2015.
Amended by SR-FINRA-2008-021 eff.
Each member carrying securities margin accounts for customers (as such term is defined in Rule 4210(a)(3)) shall make a record each day of every case in which, pursuant to FINRA rules or Regulation T of the Board of Governors of the Federal Reserve System, initial or additional margin must be obtained in a customer's account in such format as FINRA may require. The record shall show, for
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3100.
FINRA regulates a critical part of the securities industry – member brokerage firms doing business in the United States. In an effort to increase public awareness and understanding about the broad range of FINRA-registered firms and individuals, FINRA shares an annual snapshot of some of the data collected in the course of its work.
<p>Employee Leasing Arrangement Does Not Violate Rule 2420</p>
<p>The limited supervisory functions that can be properly delegated to registered representatives also may be assigned to persons registered as Foreign Associates under NASD Rule 1100. Foreign Associates, however, may not perform the functions that require a principal registration.</p>
Dear FINRA,
I am writing today to express my disappointment that you are considering regulations limiting my publicly available investment options. Only through a wide and diverse array of investment options can a diverse and balanced portfolio be maintained. As an investor in the market today, just as in 2008-2009, maintaining a hedge against extreme volatility is an important and needed aspect
