Summary
The purpose of this Notice is to notify member firms of the upcoming nomination and election process to fill vacancies on FINRA’s Regional Committees. The Regional Committees play an important part of informing FINRA’s regulatory programs by, among other things, alerting FINRA to industry trends that could present regulatory concerns and consulting with FINRA on proposed policies and
Timely and complete reporting of all information required by the FINRA By-Laws and rules, as well as the federal securities laws is critical. The Securities and Exchange Commission, FINRA, other self-regulatory organizations and state securities regulators use the information to make licensing and registration decisions, among other uses. FINRA also uses the information in BrokerCheck, which
Neutral Corner - October 2007
On March 16, 2023, FINRA published responses to frequently asked questions concerning the MMTLP corporate action and trading halt (March 16, 2023, MMTLP FAQ). In that corporate action, the issuer decided that MMTLP shares would be cancelled and investors in those shares would receive a distribution of shares of Next Bridge Hydrocarbons, Inc. (Next Bridge). FINRA has continued to receive questions regarding the circumstances surrounding these events. In particular, some have questioned the level of short selling in MMTLP and suggested that there was a substantial amount of “counterfeit shares.” Although it is not clear what is meant by the term “counterfeit shares,” it has been used in social media when discussing “naked” short selling in a security and failures-to-deliver (FTDs). Some investors have expressed concern that, even though their brokerage account statements include shares of Next Bridge in their account, these shares may not have actually been delivered to their broker-dealer.
The NASD Office of General Counsel Regulatory Policy and Oversight (OGC) publishes the Disciplinary Update to provide registered representatives with a summary sampling of recent disciplinary actions involving misconduct by registered representatives. The sample of disciplinary actions includes settled matters and decisions in litigated cases (National Adjudicatory Council (NAC) decisions and decisions of the Securities and Exchange Commission in NASD cases).
GUIDANCE
Fingerprinting Procedures
SUGGESTED ROUTING
KEY TOPICS
Legal and Compliance
Registration
Senior Management
Best Practices
Fingerprinting
Executive Summary
NASD is issuing this Notice to Members to remind members to review and, as necessary, update their fingerprinting procedures to help ensure that fingerprints
Executive Summary
The purpose of this Election Notice is to notify FINRA small firm members of the process to fill one South and one Midwest Region vacancy on the Small Firm Advisory Committee (SFAC). In response to the Election Notice published on September 1, 2020, individuals only self-nominated to run for the South Region seat. Therefore, ballots will be distributed to elect one SFAC South
FINRA encourages comments on this paper, including areas where FINRA may:offer guidance or modifications to its rules to address the adoption of quantum computing;foster greater crypto agility within firms to prepare for post-quantum cryptography; andseek to prepare for a quantum future while maintaining investor protection and market integrity.FINRA also seeks input from financial industry
(a) Each member shall designate and specifically identify to FINRA one or more principals who shall establish, maintain, and enforce a system of supervisory control policies and procedures that:
(1) test and verify that the member's supervisory procedures are reasonably designed with respect to the activities of the member and its associated persons, to achieve compliance with
