The penny stock rules under the Exchange Act require broker-dealers engaging in certain over the counter transactions in low-priced stocks to provide customers with specified information. See Securities Exchange Act Release No. 30608 (April 20, 1992), 57 FR 18004 (April 28, 1992). The penny stock rules permit a broker-dealer to fulfill some of these disclosure obligations by relying on pricing
Summary
FINRA is issuing this Notice to remind firms they must register with FINRA CAT, LLC (FINRA CAT) for reporting to the Consolidated Audit Trail (CAT). CAT registration commenced on March 18, 2019, and will run through June 27, 2019. All Industry Members, as defined under the CAT NMS Plan, that will have a CAT reporting obligation must register during this window.
All questions regarding
INFORMATIONAL
FIPS Changes
SUGGESTED ROUTING
KEY TOPICS
Corporate Finance
Legal & Compliance
Municipal/Government Securities
Operations
Senior Management
Trading & Market Making
FIPS
The Suggested Routing function is meant to aid the reader of this document. Each NASD member firm should consider the appropriate distribution in the context of its own organizational
(a) Under the terms of the business arrangement establishing the FINRA/Nasdaq Trade Reporting Facility Carteret and the FINRA/Nasdaq Trade Reporting Facility Chicago, Nasdaq, Inc., as the Business Member, has a non-exclusive, irrevocable, worldwide, perpetual, royalty-free right and license to use covered market data, consistent with all applicable laws, rules and regulations. Nasdaq, Inc., as
FINRA announced today that it has fined Morgan Stanley Smith Barney LLC $1.6 million for the firm’s repeated failures to timely close out failed inter-dealer municipal securities transactions and to take prompt steps to obtain physical possession or control of municipal security positions that are short more than 30 calendar days, and related supervisory failures.
Summary
In November 2017, FINRA launched a retrospective review of Rule 5250 (Payments for Market Making), which generally prohibits members from receiving payments for market making, to assess its effectiveness and efficiency.1 The review is part of an ongoing initiative to periodically look back at a rule or set of rules to ensure they remain relevant and are appropriately designed to
FINRA Requests Comment on a Revised Proposal Regarding the Consolidated FINRA Rules Governing FINRA’s Membership Application Proceedings
Regulatory Notice 08-37 - FINRA Reminds Firms that the Trading Activity Fee Is Assessed on Exchange-Listed Options Transactions when FINRA Is the DOEA
Small Firm Advisory Board Runoff Election
Number
Date
Title
2022-85
May 20, 2022
SEC Charges Wells Fargo Advisors with Anti-Money Laundering Related Violations
SEC Order
2022-83
May 16, 2022
SEC Obtains Emergency Relief to Halt Pre-IPO Stock Fraud Scheme by Unregistered Broker-Dealer
SEC Complaint
2022-1
January 5, 2022
SEC Charges Additional Defendant in Phony
