FINRA Notice 15-45

Summary

Implementation Date: January 4, 2016

The SEC recently approved FINRA’s proposal to establish a registration category and qualification examination requirement for Securities Traders and Securities Trader Principals.1 This Notice provides firms with information regarding the Securities Trader registration category and qualification examination (Series 57), Securities Trader Principal registration category, Series 57 examination fee and implementation of the new registration categories. In addition, the Notice provides firms with information regarding the Regulatory Element Continuing Education (CE) Program for Securities Traders. Candidates for the Series 57 examination will be able to schedule and take the examination beginning on January 4, 2016.The content outline for the examination is available on FINRA’s website. The amended rule text is attached as Appendix A.

The rules will be implemented on January 4, 2016.

See the attached pdf, for the full text:

pdf FINRA_Notice_15-45.pdf

FINRA Notice 15-44

Summary

Effective Date: November 1, 2017

FINRA and the other U.S. members of the Intermarket Surveillance Group (ISG members)1 have extended the effective date for compliance with certain data elements for Electronic Blue Sheets (EBS) identified in Regulatory Notice 13-38 to November 1, 2017. FINRA and the other ISG members are extending the effective date for these data elements to be consistent with the exemptive relief recently granted by the SEC, which extended the compliance date for certain broker-dealer recordkeeping and reporting requirements of SEA Rule 13h-1 (Large Trader Rule) from November 1, 2015 to November 1, 2017.

See the attached pdf, for the full text:

pdf FINRA_Notice_15-44.pdf

FINRA Notice 15-43

Summary

Effective Date: November 3, 2015

As required by Regulation Systems Compliance and Integrity (Regulation SCI), FINRA has adopted new Rule 4380 related to mandatory member firm participation in business continuity and disaster recovery (BC/DR) testing.1 The new rule authorizes FINRA to designate firms that must participate in FINRA’s BC/DR testing under Regulation SCI, which will be conducted once per year. Under Rule 4380, FINRA will designate member firms for mandatory BC/DR testing participation based on established standards, which this Notice describes in detail.

See the attached pdf, for the full text:

pdf FINRA_Notice_15-43.pdf

FINRA Notice 14-45

Summary

Effective September 26, 2014

FINRA has amended FINRA Rule 9231 (Appointment by the Chief Hearing Officer of Hearing Panel or Extended Hearing Panel or Replacement Hearing Officer) to establish an additional category of persons eligible to serve as panelists on a Hearing Panel or an Extended Hearing Panel in a disciplinary proceeding to include persons currently serving, or having served previously, on a committee appointed or approved by the FINRA Board.1 The rule change also makes a conforming amendment to Rule 9232 (Criteria for Selection of Panelists and Replacement Panelists), which establishes criteria for the appointment of eligible panelists to Hearing Panels and Extended Hearing Panels. The rule change will provide FINRA with a larger pool of individuals with experience and expertise who could serve as panelists.

The new rule text is available in the online FINRA Manual. See the attached pdf, for the full text:

pdf FINRA-notice-14-45.pdf