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 the Municipal Securities Rulemaking Board (MSRB).
I M P O R T A N T
Officers * Partners * Proprietors
TO: All NASD Members
On April 12, 1984, the SEC issued Release No. 34-20853 requesting public comments on the NASDAQ Options Program. The text of this release, together with a document which provides an overview of the NASDAQ Options Program and a fact sheet highlighting major features of the program, are enclosed with this notice.
The
SUGGESTED ROUTING
Senior ManagementInternal AuditOperationsTrading
On June 30, 1988, the maximum Small Order Execution System (SOESSM) order size for all Nasdaq National Market® securities was established as follows:
A 1,000-share maximum ordersize was applied to those Nasdaq National Market securities that had an average daily nonblock volume of 3,000 shares or more a day, a bid
Bulletin Board Designated As "Qualifying Electronic Quotation System"
On December 30, 1992, the Securities and Exchange Commission (SEC) granted the NASD's request for interim designation of the OTC Bulletin Board® service (OTCBB) as a "Qualifying Electronic Quotation System" for purposes of certain penny-stock rules that became effective on January 1, 1993. The SEC
SUGGESTED ROUTING:*
Senior ManagementInternal AuditOperationsTrading*These are suggested departments only. Others may be appropriate for your firm.
On June 30, 1988, the maximum Small Order Execution System (SOES) order size for all Nasdaq National Market securities was established as follows:
A 1,000-share maximum order size was applied to those Nasdaq National Market securities that
/**/
Publication Date: August 11, 2025Interpretations are marked in blue background beneath the rule text to which they relate. 15c3-3aExhibit A - Formula for determination of customer and PAB account reserve requirements of brokers and dealers under § 240.15c3-3 CreditsDebits 1.Free credit balances and other credit balances in customers' security
The Reporting Firm 10 Second Compliance Report Card are monthly status reports for market participant that contain counts of properly modified late trades, late trades that were not modified, and improperly modified trades.
Reporting Firm is defined as the firm that reported the Executing Party of the trade.
Member firms are required to report trades in accordance with established FINRA rules
The Executing Firm 10 Second Compliance Report Card is a monthly status report for trades that another firm reported on behalf of the market participant. The report contains counts of properly modified late trades, late trades that were not modified, and improperly modified trades.
Executing Firm is defined as the member that receives an order for handling or
