Mr. Chairman and Members of the Subcommittee: NASD is grateful to the committee for inviting us to testify on NASD's regulatory activities regarding inappropriate sales of certain investment products to members of the armed forces, and for allowing us to submit this statement for the record.
Exemptive relief is granted based on the following considerations: the Contribution was made by an individual who, at of the time of the Contribution, had never been an MFP nor was Name involved in the Firm’s municipal securities business. We believe the possibility that the payment was intended to influence issuer officials is significantly minimized. To the extent that any potential investor protection concerns exist, the staff believes these concerns will be appropriately addressed by the Firm’s existing firewall procedures for Name.
Proposed Rule Change to Provide a Process for an Expedited Proceeding and Adopt a Rule to Prohibit Disruptive Quoting and Trading Activity
Proposed Rule Change to Amend the Industry Code of Arbitration Procedure Relating to Whistleblower Claims in Arbitration
Proposed Rule Change to Revise the Securities Trader (Series 57) Examination
FINRA has taken disciplinary actions against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of theMunicipal Securities Rulemaking Board (MSRB).
Proposed Rule Change to Extend the Implementation of FINRA Rule 4240 (Margin Requirements for Credit Default Swaps)
Proposed Rule Change to Amend Rule 13806 to Provide for Appointment of Chair-Qualified Public Arbitrators in Promissory Note Disputes
Proposed Rule Change to Adopt FINRA Rule 4360 (Fidelity Bonds) in the Consolidated FINRA Rulebook
Proposed Rule Change to Reconcile Certain Amendments Approved Pursuant to SR-FINRA-2009-061 and SR-FINRA-2010-003
