Background
The Military Personnel Financial Services Protection Act ("Military Act") was enacted to protect members of the U.S. Armed Forces from unscrupulous practices regarding sales of insurance, financial and investment products. Congress amended Section 15A(b) of the Securities Exchange Act of 1934 with the enactment of the Military Act to require FINRA, as a registered securities
INFORMATIONAL
District Elections
SUGGESTED ROUTING
KEY TOPICS
Executive Representatives
Legal & Compliance
Operations
Registration
Senior Management
District Elections
Executive Summary
The purpose of this Special Notice to Members is to announce the
<p>Application of Rule 2210 to the use of investment projections and marketing material when registered persons are conducting advisory services.</p>
Effective Date: July 1, 1997
SUGGESTED ROUTING
Legal & Compliance
Operations
Systems
Trading
Executive Summary
The following is a corrected list of the Small Order Execution SystemSM (SOESSM) tier size changes that became effective on July 1, 1997. The list of SOES tier size
(a) Definitions
The following terms shall, unless the context otherwise requires, have the stated meanings:
(1) Aggregate Exercise Price — The term "aggregate exercise price" means the exercise price of an option contract multiplied by the number of units of the underlying security covered by such option contract.
(2) Call — The term "call" means an option contract under
(a) Definitions
The following terms shall, unless the context otherwise requires, have the stated meanings:
(1) Aggregate Exercise Price — The term "aggregate exercise price" means the exercise price of an option contract multiplied by the number of units of the underlying security covered by such option contract.
(2) Call — The term "call" means an option contract under
Summary
Pursuant to FINRA Rule 4210(f)(8)(A), FINRA is establishing higher strategy-based margin requirements for exchange-traded notes (ETNs) and options on ETNs in light of the complex nature of these products. The new requirements for initial and maintenance margin are detailed below.
In addition, FINRA is clarifying that ETNs and options on ETNs are not eligible for portfolio
(a) A member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer's investment profile. A customer's investment profile includes,
(a) A member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer's investment profile. A customer's investment profile includes,
Rules 203(b) (Short sales) and 204 (Close-out requirement) of Regulation SHO provide exceptions for bona fide market making activity. The SEC has provided guidance on what constitutes “bona fide market making activities” as well as examples of what does not. Member firms must also confirm and be able to demonstrate that any transaction for which they rely on a Regulation SHO bona fide market making exception qualifies for the exception, consistent with Regulation SHO and guidance.
