Blog
Proposed Rule Change Related to TRACE
FINRA is proposing to amend the FINRA Rule 6700 Series and the Trade Reporting and Compliance Engine (‘‘TRACE’’) dissemination protocols to provide for dissemination of transactions in an additional type of Securitized Products—specifically, collateralized mortgage obligations (‘‘CMOs’’). In addition, FINRA is proposing a corresponding change to Rule 6730 to reduce [...]
Pay-to-Play Rule Applies to Trump’s VP Pick
SEC-registered investment advisers are taking a closer look at their compliance policies and procedures following Donald Trump’s selection of Mike Pence as Vice President. “Why?” you may ask. It’s because Mike Pence is the current state governor of Indiana and is thus subject to the “pay-to-play rule”. Let me explain. [...]
FINRA Rule 2210 and Debt Research Reports
FINRA has recently made several changes to FINRA Rule 2210 to expressly address its application to debt research reports in light of the SEC’s approval of a dedicated debt research conflict of interest rule. FINRA Rule 2242, which addresses conflicts of interest relating to the publication and distribution of debt [...]
Important Information About Series 63
If you’re reading this blog, you probably know all about the Series 63: The Uniform Securities Agent State Law Examination (more commonly known as the Series 63 or S63) was developed by the North American Securities Administrators Association (NASAA) to qualify candidates as securities agents. The exam covers the principles [...]
Outsourcing and Compliance Responsibilities
In the broker-dealer industry, firms are always looking for ways to increase efficiencies while reducing budget constraints. One way that this is accomplished is through outsourcing certain functionalities to third-party service providers. What areas do firms commonly outsource? It runs the gamut – everything from IT services and website development, [...]
Changes in Organization
Often times, broker-dealers decide to restructure and make changes in organization. These changes in organization may be in the form of a merger, acquisition, or a succession. Once a firm has decided to restructure, there are many questions that a firm should consider in order to make the transition easy [...]