1. What specific FINRA rules should be a focus for modernization based on their economic costs and benefits; changes in markets, products, services, or technology; or otherwise? What groups of FINRA requirements should be a focus? Please include FINRA rules that may be mandated or derived from a statutory or other non-FINRA regulatory requirement applicable to FINRA or its members.FINRA Rule 3210
Rule 17a-5 requires all member firms to file Schedule 1 of Form X-17A-5. This Schedule is a calendar year--end report filed by all registrants as a supplement to the regular fourth quarter FOCUS report. Schedule 1 requires the reporting of general information designed to measure certain economic and financial characteristics of the registrant. I believe this form is
Rule 17a-5 requires all member firms to file Schedule 1 of Form X-17A-5. This Schedule is a calendar year--end report filed by all registrants as a supplement to the regular fourth quarter FOCUS report. Schedule 1 requires the reporting of general information designed to measure certain economic and financial characteristics of the registrant. I believe this form is
FINRA’s rules should be modernized to address economic costs, evolving markets, technology advancements, and regulatory inefficiencies. Below are key areas for modernization, including specific rules, guidance updates, and regulatory overlaps that warrant attention.1. Focus Areas for Modernizing FINRA RulesSeveral FINRA rules are outdated, overly burdensome, or fail to account for modern trading
By Robert Cook, President and CEO, FINRA. In October 2023, the SEC adopted Rule 10c-1a, which is intended to enhance transparency in the securities lending market. In effect, the rule requires market participants to report securities lending transactions to FINRA, and requires FINRA to adopt rules establishing a system to facilitate such reporting and to publicly disseminate specified reported loan information. Earlier this month, the SEC approved the required FINRA rules.
Regulatory ObligationsSEA Rule 15c2-11 governs the publication or submission of quotations by broker-dealers in a quotation medium other than a national securities exchange (i.e., the OTC market).1 The rule generally prohibits a broker-dealer from publishing a quotation for any security in a quotation medium unless the broker-dealer has reviewed current and publicly available information
SummaryFINRA has amended Rule 13606 of the Code of Arbitration Procedure for Industry Disputes to provide that the Director of FINRA Dispute Resolution Services will provide a copy of the official record of an expungement hearing held pursuant to Rule 13805, and any transcription if the recording is transcribed, to any customers, upon request, who attend and participate in the expungement hearing
Please consider removing Pattern Day Trading rules. If you still believe PDT rules are critical, would it be outrageous to lower the $25k minimum or increasing the number of trades that can be done in a rolling 5 day period? The PDT rules hurt new investors because they can’t practice trading with a smaller account. Thank you for your consideration.
I am writing to express my strong opposition to FINRA’s Proposed Rule 3290 as outlined in Regulatory Notice 25-05. As a responsible investor who personally owns digital assets and utilizes a registered advisor through Digital Wealth Partners, I am deeply concerned about the proposed restrictions requiring financial advisors to seek written approval from their broker/dealer before engaging in
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to stay the effectiveness of specified expulsions and FINRA actions.
