Due to increased reports related to cyber incidents occurring at FINRA member firms which have been attributed to specific threat actors, the Cyber and Analytics Unit (CAU) within FINRA’s Member Supervision Program is highlighting a recent joint Cybersecurity and Infrastructure Security Agency (CISA) and Federal Bureau of Investigation (FBI) Cybersecurity Advisory published on November 16, 2023, which may be updated as new intelligence is uncovered.
Sec. 4.12 (a) Notice of any meeting of the Board shall be deemed to be duly given to a Director if: (i) mailed to the address last made known in writing to FINRA Dispute Resolution by such Director as the address to which such notices are to be sent, at least seven days before the day on which such meeting is to be held; (ii) sent to the Director at such address by electronic
Sec. 4.12 (a) Notice of any meeting of the Board shall be deemed to be duly given to a Director if: (i) mailed to the address last made known in writing to FINRA Regulation by such Director as the address to which such notices are to be sent, at least seven days before the day on which such meeting is to be held; (ii) sent to the Director at such address by electronic transmission not
Mr. Chairman and Members of the Subcommittee: NASD would like to thank the committee for the invitation to testify regarding self-regulation in the securities industry.
(a) Each member shall designate an associated person who shall be responsible for each general ledger bookkeeping account and account of like function used by the member and such associated person shall control and oversee entries into each such account and shall determine that the account is current and accurate as necessary to comply with all applicable FINRA rules and federal securities laws
While Americans as a whole are feeling less financial stress, making ends meet remains a daily struggle for women, millennials, African-Americans, Hispanics and those without a high school education, according to the NFCS, one of the largest and most comprehensive financial capability studies in the United States. The study measures four key components of financial capability—making ends meet,
First-party Automated Clearing House (ACH) fraud in the securities industry typically occurs when a bad actor—a firm customer using their true identity—uses a brokerage account to initiate an ACH pull transaction from a bank with insufficient funds, or improperly claims that a fraudulent ACH transaction occurred. This webinar reviews a FINRA released Threat Intelligence Product (TIP) that
Haimera Workie, Vice President and Head of Financial innovation, oversees the Office of Financial Innovation. In this capacity, he is responsible for leading FINRA’s Office of Financial Innovation, which focuses on analyzing financial technology (FinTech) innovations and emerging risks and trends related to the securities market. As part of these responsibilities, Mr. Workie works to foster an
The timely receipt of firms’ annual audited financial statements is critical to FINRA’s ability to carry out its regulatory obligations.
Regulatory Obligations
Exchange Act Rule 15c3-3 (Customer Protection Rule) requires firms that maintain custody of customer securities and safeguard customer cash to segregate these assets from the firm’s proprietary business.
Noteworthy Examination Findings
FINRA has continued to identify many of the same concerns noted in the Segregation of Client Assets section of the 2018 Report, including
