By Robert Cook, President and CEO, and Greg Ruppert, Executive Vice President, Member Supervision, FINRA. From 2021 to 2024, the SEC brought enforcement actions against numerous FINRA member firms for recordkeeping violations involving off-channel communications (OCCs) and settled them on substantially similar terms. In January 2025, the SEC brought additional OCC-related actions against other member firms but settled these on significantly less burdensome terms. A group of firms settling before 2025 petitioned the SEC to modify their settlements to align with the January firm settlements. The SEC recently denied this petition.
SEC Approves Changes to FINRA's BrokerCheck Disclosure Rule to Retain and Make Publicly Available Information About Final Regulatory Actions Against Former Brokers
IMPORTANT
OFFICERS, PARTNERS AND PROPRIETORS
TO: All NASD Members and Other Interested Persons
The Securities and Exchange Commission has approved a recodification of the NASD By-Laws 1/ and a revised Code of Procedure. 2/ The text of these amendments, which were effective upon approval by the Commission, 3/ is attached.
Over the past several years, the Association's Ad Hoc Committee on
SUGGESTED ROUTING:*
Senior ManagementLegal & ComplianceRegistrationTraining*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
The NASD Board of Governors has decided to move forward with plans to develop an industry-wide program of continuing education and assessment for the securities personnel registered with the NASD. The Board
The FINRA Board of Governors will consider the following rulemaking items at its July 2012 meeting.
(1) Lately I have seen time after time (failure to delivers) FTDS hit outrageous and unprecedented numbers SEC has fined market makers in some instances fractional fines of a percent to continue doing business. If this kind of activity is allowed, can I turn do the same? I would be more than glad to do the same if their's no disciplinary actions against this. (2) Naked shorting is illegal.
SUGGESTED ROUTING*
Corporate FinanceGovernment SecuritiesInternal AuditLegal & ComplianceMunicipalMutual FundOperationsOptionsRegistrationResearchSyndicateSystemsTradingTraining
*These are suggested departments only. Others may be appropriate for your firm.
The NASD published the following Notices to Members during 1989. Duplicate copies are available at $15 per monthly issue.
Julie Glynn is the Senior Vice President of Enforcement Legal. In this role, Ms. Glynn is a senior legal advisor to the Executive Vice President and Head of Enforcement. She is responsible for monitoring and advising on high-impact and noteworthy investigations and disciplinary actions, including litigation, across the Enforcement department and in coordination with FINRA’s Regulatory Operations
September 26, 1995;
Executive Summary
On September 8, 1995, the Securities and Exchange Commission (SEC) approved a new rule under Article III, Section 50 of the Rules of Fair Practice (Rules) for reporting customer complaint information and other specified events to the NASD. The new rule requires members to report to the NASD the occurrence of 10 specified events and quarterly summary
Ver en españolOnly when people are aware of the Office of the Ombuds can they seek our assistance. This is why we strive to increase our outreach to our constituents—investors, the broker-dealer industry, FINRA staff, and any other FINRA stakeholders. In 2023, our outreach included meeting with investor representatives; participating in investor, industry, and employee events; and enhancing our
