REQUEST FOR COMMENT
Proposed Amendments to Rule 2720
SUGGESTED ROUTING
KEY TOPICS
Corporate Financing
Legal & Compliance
Senior Management
Trading & Market Making
Affiliate
Conflicts of Interest
Equity & Debt Offerings
Investment Banking
Qualified Independent Underwriter
Rule 2710
Rule 2720
Underwriting Compensation
Executive Summary
NASD is issuing
SUGGESTED ROUTING
Senior ManagementLegal & ComplianceMutual FundRegistration
Executive Summary
On January 18, 1993, the NASD's Board amended its Public Disclosure Program to make additional regulatory information on its members and associated persons available to the public. The Board's action will expand this program to include civil judgments and NASD arbitration
FINRA Reminds Firms of Their Obligations When Reporting Large Options Positions
WASHINGTON—FINRA has ordered three firms—Edward Jones, Osaic Wealth, Inc. and Cambridge Investment Research, Inc.—to pay more than $8.2 million in restitution to customers who were harmed by the firms’ failures to provide available mutual fund sales charge waivers and fee rebates on mutual fund purchases. FINRA did not impose any fines in connection with these matters in recognition of each firm’s extraordinary cooperation with FINRA’s investigations.
Firms involved in mergers, acquisitions, asset transfers (which may include but is not limited to registered representatives and customer accounts) and other operational changes must attend to various regulatory and investor-protection obligations.
FINRA encourages firms, and in some cases requires them, to notify their FINRA coordinator when planning these changes. By discussing these proposals
SEC Extends Time Period For Commenting On Proposed Changes To Rules 17a-3 And 17a-4 On January 17, 1997, the Securities and Exchange Commission (SEC) announced that it is extending, until March 31, 1997, the comment period for proposed changes to Rules 17a-3 and 17a-4. The proposed amendments clarify, modify, and expand broker/dealer recordkeeping requirements for purchase and sale memoranda,
SUGGESTED ROUTING*
Senior ManagementLegal & Compliance
*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
The Securities and Exchange Commission (SEC) has approved amendments to the NASD Code of Procedure that make two changes in the Code to the disciplinary process that reduce the burden that this process imposes on the National
FINRA announced today that it has fined BofA Securities, Inc. $24 million for engaging in more than 700 instances of spoofing through two former traders in U.S. Treasury secondary markets and related supervisory failures spanning more than six years.
Correction: On page 571, the second sentence under the subhead Updated Financial Information should read: "The updated information shall be prepared as of a date that is within 45 days before the interview." The online version of this Notice has been corrected.
INFORMATIONAL
Membership Rules
Effective Date: November 15, 2000
SUGGESTED ROUTING
KEY TOPICS
Legal &
Our role is informal in nature. We do not make business or policy decisions for FINRA or participate in formal processes such as disciplinary or personnel actions.
