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Executive Summary
The Board of Governors, acting on the recommendation of a special Ad Hoc Committee, is clarifying the applicability of Article III, Section 40 of the NASD Rules of Fair Practice to the investment advisory activities of registered representatives. This Notice describes those
TO: NASD Members Participating in Sales of Direct Participation Program Securities
The National Association of Securities Dealers, Inc. is circulating the attached questionnaire to members which participate in sales of direct participation programs in order to ascertain the level of interest in a communications service that would disseminate information about DPPs to members and sponsors. This
A member firm may include related performance information in institutional communications concerning variable contracts, subject to the stated conditions discussed in the letter.
For purposes of the Rule 6800 Series:(a) "Account Effective Date" means:(1) with regard to those circumstances in which an Industry Member has established a trading relationship with an institution but has not established an account with that institution:(A) when the trading relationship was established prior to commencement of Phase 2c or Phase 2d (as applicable depending on
What is Mediation
Mediation is a non-binding alternative dispute resolution (ADR) process in which a neutral mediator helps the parties reach an agreed resolution of the disputed issues in the disciplinary proceeding. The mediator assists the parties in reaching their own negotiated settlement by defining the issues, probing and assessing the strengths and weaknesses of each party’s positions,
FINRA publishes this quarterly review to provide firms with a summary sampling of recent disciplinary actions involving misconduct by registered representatives. The sample includes settled matters and decisions in litigated cases (National Adjudicatory Council decisions and decisions of the SEC in FINRA cases). These summaries call attention to, and remind registered representatives and firms of, specific conduct that violates FINRA rules and may result in disciplinary action.
With the holiday season upon us and 2023 coming to an end, FINRA’s Cyber and Analytics Unit (CAU) would like to remind member firms to prepare for cyber threats and attacks that may occur around the holidays. Member firms and their vendors should consider reviewing and validating their Written Supervisory Procedures (WSPs), continuing to educate their employees with respect to cybersecurity and effective practices, and testing incident response plans (IRPs) to prepare for, prevent, or recover from an incident.
Just over one year ago, FINRA launched the Innovation Outreach Initiative as part of FINRA360, our comprehensive organizational review. The Initiative began an ongoing dialogue with industry participants, investor advocates and policy makers centered on the implications of financial technology (fintech) for the broker-dealer industry.
The purpose of this Election Notice is to notify FINRA large and small member firms of contested elections for a large firm seat and a small firm seat on the National Adjudicatory Council (NAC) and the distribution of ballots.
Per your request for Regulatory Notice 21-19 regarding Short Positions, please find my comment below. The current requirements for short sale reporting, thorough as they may seem, are woefully inadequate in terms of depth, clarity and public transparency. I'd like to take the time to address what I see as issues that clearly and with immediate care must be addressed when considering short
