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FINRA Rule 3130 (formerly known as NASD Rule 3013) requires the CEO to CERTIFY that the firm has a PROCESS to adopt adequate Supervisory Policies and Procedures. The goal of the Rule is to “promote regular and meaningful interaction between senior management and compliance personnel to ensure that compliance is given the highest priority by a member’s senior executive officers.” In order to comply with the rule, your broker-dealer must: Designate and identify to FINRA one or more Chief Compliance Officers (CCOs) through the FINRA Contact System on FINRA’s Web site. The designated CCOs must also be identified on Schedule Read More.... -
FINRA Rule 3210 (Accounts at Other Broker-Dealers and Financial Institutions), which replaces the previously used NASD Rule 3050, Incorporated NYSE Rules 407 and 407A and Incorporated NYSE Rule Interpretations 407/01 and 407/02, was approved by the SEC in April of 2016, and became effective in April 2017. This is a consolidated rule governing accounts opened or establishedSB Game Hacker Apk by associated persons at firms other than the firm at which they are employed, ensuring that member companies, brokers, and advisors maintain ethical standards. This means the rules have changed in the investment industry when it comes to declaring a Read More....
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FINRA announced that it has revised the Rule 4530 (Reporting Requirements) Product and Problem Codes and Filing Application Form to reflect changes related to the Department of Labor’s fiduciary rule and the MSRB’s rules on customer complaints and recordkeeping. The changes related to the DOL’s fiduciary rule became effective on June 9, 2017, while the changes related to the MSRB’s customer complaints rules will take effect on October 1, 2017. snaptube app Rule 4530 Filing System and Business Changes In late October 2017, FINRA is retiring the current Regulatory Filing Application. At that time, the Rule 4530 application is moving to Read More.... -
Millions of investors participate in municipal bond ownership. It pays to do your homework. Learning more about the features and risks of an investment is important for all investors. Investors who own municipal bonds or who are considering adding them to their portfolios have access to a free online library of information. The Electronic Municipal Market Access website (“EMMA”) is the official repository for information for municipal bonds, and can help you learn about, evaluate and monitor over 1.2 million outstanding municipal bonds. The EMMA website is operated by the MSRB as part of its mission to promote a fair, Read More....
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The SEC’s Office of Compliance Inspections and Examinations (OCIE) recently published a Risk Alert pertaining to “WannaCry,” the ransomware worm that infected hundreds of thousands of computers in over 150 nations earlier in May, 2017. WannaCry infects computers with malicious software that encrypts users’ files and demands payment to regain access to the data. The alert provides cybersecurity best practices, including a new initiative towards “rapid response” methods that firms should use to respond to cybersecurity challenges. It also describes factors that firms may consider to (1) assess their supervisory, compliance and/or other risk management systems related to cybersecurity risks, Read More....
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FINRA has recently announced the SEC approval of new Rule 2165 and amendments to FINRA Rule 4512 to address a longstanding problem within the securities industry: the financial exploitation of senior investors. “These rules will provide firms with tools to respond more quickly and effectively to protect seniors from financial exploitation.Microsoft Compatibility Telemetry This project included input and support from both investor groups and industry representatives and it demonstrates a shared commitment to an important, common goal – protecting senior investors,” said Robert W. Cook, FINRA President and CEO. According to FINRA, approximately 10,000 Americans will turn 65 every day Read More....
