Blog
Recent Enforcement Actions from FINRA
As summarized below, FINRA recently announced some recent enforcement actions against member firms that we wanted to share with you. We have selected these specific cases to share as we feel these are very important areas of compliance within a broker-dealer. More importantly, each of the examples summarized below were [...]
MSRB Requests Comment on Draft Amendments to MSRB Rule G-34
As summarized below, the Municipal Securities Rulemaking Board (MSRB) recently published a Regulatory Notice seeking comment on draft rule amendments to MSRB Rule G-34, on CUSIP numbers, new issue, and market information requirements, to clarify existing application of the rule to certain new issue municipal securities, and to expand the [...]
FINRA Rule 2232 – Customer Confirmations
As summarized below, the SEC has recently approved amendments to FINRA Rule 2232 (Customer Confirmations) that require firms to disclose additional transaction-related information to retail customers for trades in certain fixed income securities. These amendments will become effective on May 14, 2018. When Disclosure is Required New FINRA Rule 2232(c) [...]
FINRA Requests Comment on Rules Governing Communications with the Public
FINRA recently published a Regulatory Notice to announce that it is currently soliciting comment on proposed amendments to FINRA Rule 2210 (Communications with the Public). Rule 2210 provides that communications may not predict or project performance, imply that past performance will recur or make any exaggerated or unwarranted claim, opinion [...]
Submitting Fingerprints to FINRA
As a broker-dealer compliance company, we are often consulted about the process of submitting fingerprints for FINRA approval. Who Needs to Be Fingerprinted? Section 17f-2 of the Securities Exchange Act (SEA) of 1934 states that that “every member of a national securities exchange, broker, dealer, registered transfer agent, registered clearing [...]
Important Annual Regulatory Certifications – Rule 4517
FINRA Rule 4517 – Member Filing and Contact Information Requirements FINRA Rule 4517 requires member broker-dealers to report and update to FINRA all contact information required by FINRA via Firm Gateway. Specifically, each registered broker-dealer is required to report and update all contact information required by FINRA via the Firm [...]