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FINRA Notice 15-46

Summary

November 2015

In light of the increasingly automated market for equity securities and standardized options, and recent advances in trading technology and communications in the fixed income markets, FINRA is issuing this Notice to reiterate the best execution obligations that apply when firms receive, handle, route or execute customer orders in equities, options and fixed income securities. FINRA is also issuing this Notice to remind firms of their obligations, as previously articulated by the Securities and Exchange Commission (SEC) and FINRA, to regularly and rigorously examine execution quality likely to be obtained from the different markets trading a security.FINRA also welcomes comments on whether there are other topics related to best execution for which additional guidance would be helpful. Any such comments can be emailed to pubcom@finra.org.

See the attached pdf, for the full text:

pdf Notice_Regulatory_15-46.pdf

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