Blog
Proposed Amendments to FINRA Rule 3240
Following up on a retrospective review launched in 2019, FINRA released Regulatory Notice 21-43, which shows their proposed amendments to FINRA Rule 3240: Borrowing from or Lending to Customers. With these changes, FINRA is hoping to reduce instances of abuse as well as to modernize the rule. Based on the [...]
Annual Compliance Meeting (ACM)
FINRA Rule 3110(a)(7) requires all registered representatives and registered principals to participate, at least once each year, in an interview or meeting at which compliance matters relevant to their particular activities are discussed. Annual Compliance Meetings (ACM) give registered persons the opportunity to regularly discuss compliance issues and assists the [...]
FinCEN’s New AML/CFT Priorities
In October 2021, FINRA released Regulatory Notice 21-36 discussing the first government-wide priorities for anti-money laundering and countering the financing of terrorism policy, which was mandated by the Anti-Money Laundering Act of 2020 (AML Act). The AML/CFT Priorities FinCEN's new AML/CFT Priorities focus on threats to the U.S. financial system [...]
FINRA Report Filing Due Dates for 2022
FINRA recently released a notice about 2022 and first quarter of 2023 FINRA Report Filing Due Dates to assist members in their financial reporting obligations for Annual Report, Financial and Operational Combined Uniform Single (FOCUS), Form Custody, and supplemental FOCUS Report filings. Remember that all filings submitted to FINRA must [...]
FINRA’s Changes to Continuing Education
FINRA has adopted important changes to its continuing education (CE) and registration rules to train registered persons more effectively while accommodating registered persons, particularly women and underrepresented minorities, whose personal circumstances take them away from the industry for a time. Maintaining Qualifications Program FINRA has amended the CE rules to [...]
Upcoming Payment Deadlines for 2022 Renewals
This is a reminder that December 13, 2021, is the payment deadline for Broker-Dealer, Investment Adviser Firm, Agent and Investment Adviser Representative, and Branch Renewals for 2022. Firms that miss this deadline can still make payments until 6 p.m. ET on Dec. 26, 2021, but they will be subject to [...]