SEC Approves Consolidated FINRA Registration Rules, Restructured Representative-Level Qualification Examinations and Changes to Continuing Education Requirements
As part of its Transparency Services improvement initiative, beginning on February 26, 2024, FINRA will re-platform the TRACE for Treasuries (TS) product to a new Linux-based operating system. Testing your current TRACE for Treasuries processes and trade report validations are strongly recommended.
On Thursday, March 18th, FINRA will conduct the first of its planned updates related to OATS retirement. During the call, FINRA staff will provide an update to the industry related to the OATS retirement efforts, including an overview of the related rule filing, status on the required accuracy and reliability standards that must be met before OATS can be retired, and a look ahead at
FINRA has updated its Guidance on OATS Exchange Route Matching to reflect changes necessary for firms to successfully match OATS routes to the related order on the Members Equity Exchange. Specifically, the update applies to Binary Users accessing the Members Equity Exchange and how to populate the Connection ID in OATS to ensure proper matching. If
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to eliminate the Order Audit Trail System (“OATS”) rules in the FINRA Rule 7400 Series and FINRA Rule 4554 (Alternative Trading Systems — Recording and Reporting Requirements of Order and Execution Information for NMS Stocks) once members are
The latest edition of the OATS Reporting Technical Specifications dated July 31, 2020 is now available.
This edition includes updates related to:
The delayed onboarding of the Long-Term Stock Exchange for Exchange Route Matching. Specifically, the Market Center ID related to the LTSE was revised to “XL”, a change from what was specified in the previous Technical
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
FINRA is responsible for the Central Registration Depository (CRD®) program, which supports the licensing and registration filing requirements of the U.S. securities industry and its regulators. The CRD program covers the registration records of broker-dealer firms, branch offices and their associated individuals, including their qualification, employment and disclosure histories; it also directs the processing of form filings, fingerprint submissions, collection and disbursement of registration-related fees, qualification exams and continuing education sessions. The registration filing requirements of the CRD program are being integrated into the new FINRA Gateway system.
GUIDANCE
Supervisory Controls
SUGGESTED ROUTING
KEY TOPICS
Legal & Compliance
Operations
Registered Representatives
Senior Management
Trading
Institutional Securities Activities
Rule 3012
(Supervisory Control System)
Rule 3010 (Supervision)
Supervisory Control Procedures
Written Supervisory Procedures
Executive Summary
On September 30, 2004, the
FINRA Requests Comment on a Concept Proposal to Develop the Comprehensive Automated Risk Data System
