SEC Announces Approval of Amendment to NASD's Minor Rule Violation Plan (MRVP) to Include Failure to Timely Submit Amendments to Form U5
Proposed Rule Change to Adopt FINRA Rule 5160 (Disclosure of Price and Concessions in Selling Agreements) in the Consolidated FINRA Rulebook
Proposed Amendment to TRACE Rule 6250 (Dissemination of Transaction Information); Filed for Immediate Effectiveness)
FINRA announced today that it has fined Morgan Stanley Smith Barney LLC $1.6 million for the firm’s repeated failures to timely close out failed inter-dealer municipal securities transactions and to take prompt steps to obtain physical possession or control of municipal security positions that are short more than 30 calendar days, and related supervisory failures.
SEC Approves Rule Change to Modify the Dissemination Protocols for Agency Debt Securities
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to adopt FINRA Rule 6897 (Consolidated Audit Trail Funding Fees) to establish fees for Industry Members related to reasonably budgeted CAT costs of the National Market System Plan Governing the Consolidated Audit Trail (the “CAT NMS Plan” or “Plan”) for the period from July 16, 2024 through December 31, 2024. These fees would be payable to Consolidated Audit Trail, LLC (“CAT LLC” or “the Company”) and referred to as “CAT Fee 2024-1.”
SEC Approves Amendments to TRACE Reporting Requirements to Conform With Requirements in the Multi Product Platform
NASD has filed with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend NASD Rule 5100 to allow members to use, for a transitional period only, the Nasdaq Exchange best (inside) bid rather than the national best (inside) bid for purposes of application of the rule. Pursuant to SR-NASD-2005-087, Rule 5100 will become effective on the
NASD has filed with the SEC a proposed rule change to amend NASD IM-10104, Rule 10306, and Rule 10319 of the NASD Code of Arbitration Procedure to impose a fee on parties of $100 per arbitrator and to compensate arbitrators in the event a hearing is adjourned within three business days before a scheduled hearing session.
FINRA Adopts New Electronic Form 211 for Purposes of Compliance with FINRA Rule 6432
