GUIDANCE
Continuing Education
SUGGESTED ROUTING
KEY TOPICS
Continuing Education
Legal & Compliance
Registration
Senior Management
Continuing Education
Firm Element
Executive Summary
The Securities Industry/Regulatory Council on Continuing Education (Council) has issued the annual Firm Element Advisory, a guide for firms to use when developing their continuing
FINRA (f/k/a National Association of Securities Dealers, Inc. ("NASD")) is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to disseminate all last sale reports of transactions in over-the-counter ("OTC") American Depositary Receipts ("ADRs") and Canadian issues immediately upon receipt of such
GUIDANCE
Best Execution
SUGGESTED ROUTING
KEY TOPICS
Legal & Compliance
Operations
Registered Representatives
Senior Management
Trading and Market Making
Best Execution
Interpretive Material 2320
Rule 2320
Executive Summary
On August 21, 2006, the Securities and Exchange Commission (SEC)
approved amendments to Rule 2320(a), the Best Execution Rule,
to require that
NASD is proposing to delay until November 26, 2007 the approved rule changes in SR-NASD-2005-146 that relate solely to the expansion of the scope of IM-2110-2 to OTC equity securities and the related deletion of Rule 6541. Certain other rule changes that were approved as part of SR-NASD-2005-146 will still become effective as scheduled on July 26, 2007.
FINRA Updates Private Placement Filer Form Pursuant to FINRA Rules 5122 and 5123
ACTION REQUESTED
Intermarket Surveillance Group1
SUGGESTED ROUTING
KEY TOPICS
Legal & Compliance
Operations
Senior Management
Blue Sheets
Executive Summary
This Notice to Members reminds member firms that by March 31,
2006, they must complete validation of certain data fields that
firms submit to the Electronic Blue Sheet (EBS) System, as directed
in Notice to Members 05
GUIDANCE
Options Position and Exercise Limits
SUGGESTED ROUTING
KEY TOPICS
Institutional
Legal & Compliance
Options
Senior management
Trading
Training
Exercise Limits
Hedge Exemption
Options
Position Limits
Rule 2860
Executive Summary
On March 30, 2005, NASD filed for immediate effectiveness with
the Securities and Exchange Commission (SEC) amendments to
NASD has filed with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend Section 4 of Schedule A to the NASD By-Laws ("Schedule A") to increase examination fees that shall be assessed on persons taking certain qualification examinations as of January 1, 2006.
The staff granted an exemption from NASD Rule 2790 in connection with new issue offering of a registered securities exchange for certain allocations as part of its issuer-directed share program.
December 3, 2004
Dana G. Fleischman, Esq.
Cleary, Gottlieb, Steen & Hamilton
One Liberty Plaza
New York, NY 10006-1470
Re: Request for Exemption from Rule 2790
Dear Ms. Fleischman
FINRA’s Member Regulation department is conducting a review with respect to products linked to the CBOE’s Volatility Index (VIX). The review will focus on the supervisory processes followed by firms to identify and mitigate sales practice risks associated with recommendations to non-institutional purchasers of VIX-linked products.
