<p>Adequate documentation of reasonable efforts to borrow, standing alone, would not constitute a circumstance sufficient to mitigate the inability to deliver securities on settlement date where a member has relied upon an "Easy to Borrow" or "Hard to Borrow" list.<br />
</p>
<p>Application of Rule 2820 (h) to a non-cash compensation arrangement that excludes variable annuity contracts that are sold in exchange transactions pursuant to Internal Revenue Code Section 1035 or pursuant to a rollover transaction under Internal Revenue Code Section 402.<br />
</p>
<p>NASD members must make an affirmative determination for all short sales prior to executing the sale (absent an exemption), including short positions not carried overnight.</p>
<p>Rule 3060 does not limit ordinary and usual business entertainment provided by a member or its associated persons to the member's clients and their guests.<br/></p>
<p>Non-cash compensation sales contest permissible under Conduct Rule 2820(h) where member sells only one variable annuity and one variable life product and appropriate records are maintained.<br/></p>
Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update
Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update
FINRA Surveys to Update the Series 4, 9 and 10 Qualification Examinations
NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to establish February 4, 2008, as the effective date of the amendments to NASD Rules 6951, 6952, and 6955 that the Commission approved on October 10, 2006. The amendments expand the Order Audit Trail System ("OATS") reporting requirements to over-the-counter (
The Trading Examinations Unit (“TEU”) within the Trading and Market Making Surveillance (“TMMS”) group of the Market Regulation Department at FINRA is conducting a review of the Firm’s controls and processes in connection with the development and use of trading algorithms , as well as controls surrounding automated trading technology.
