Publication Date: February 23, 2023
Interpretations are marked in blue background beneath the rule text to which they relate.
15c3-1e Deductions for market and credit risk for certain brokers or dealers (Appendix E to 17 CFR 240.15c3-1).
Sections 240.15c3-1e and 240.15c3-1g set forth a program that allows a broker or dealer to use an alternative approach to computing net capital deductions,
In preparation for the dissemination of transaction level data in On-the-Run U.S. Treasury nominal coupons (see Regulatory Notice 24-06), we have updated the Non-Real-Time TRACE Data Agreement and Enhanced Historic Data Agreements.
FINRA 21-19 is needed to restore the Retail Investor's trust in the market. An equivalence of information is needed to ensure all parties in the market are on equal footing. Transparency of data, in particular, the limited short interest reporting policy, needs to be improved. While many of the policies mentioned in Regulatory Notice 21-19 address the general breadth of exploitable and
Finra 21-19 is a change that is long overdue to the short reporting systems that have plagued the United States capital markets for too long. The institutions that have the ability to misrepresent their short exposure and subsequent effect on the markets is not only damaging to the retail Investor but the markets as a whole. The changes implemented in Finra 21-19 are not only a step in the right
Update to Web CRD Firm Notification Functionality
NASD, as part of its continuing efforts to assist member firms in fulfilling their compliance and registration-related requirements, is introducing an expanded e-mail notification service to all firms beginning August 22. The e-mail notifications, which are listed below, are intended to assist firms in identifying (1) material changes to a
The Firm Short Positions and Fails-to-Receive in Municipal Securities and Fixed Income – Fair Pricing sections of the 2023 Report on FINRA’s Examination and Risk Monitoring Program (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
FINRA has adopted amendments to Rule 6732 (Exemption from Trade Reporting Obligation for Certain Transactions on an Alternative Trading System) to expand the scope of the exemption to include eligible ATS transactions that involve only one member (other than the ATS). As amended, a member ATS may apply for the exemption for transactions between a member subscriber and a non-member entity
Proposed limits on access to leveraged and inverse funds have no place in a public market. Individual investors are the appropriate judges of these investments' suitability for their particular investment plans. Plenty of sound advice is available for newbies, if needed, at a reasonable cost. The US regulatory regime is already outrageous, handicapping US citizens compared to nationals
I disagree with the regulation of my right to invest in inverse and/or leveraged funds. The ability to invest in these types of funds ought to be available to all types of investors, not just the high net worth people. My ability to hedge my investments is even more important the smaller my portfolio and net worth are. The regulations if imposed would impede the ability to respond quickly to
I am Dan Sibears and I currently serve as Executive Vice President, Member Regulation Programs for the Financial Industry Regulatory Authority, or FINRA®. On behalf of FINRA, I would like to thank you for the opportunity to testify today.
