Tag Archive for: finra

FINRA Notice 16-02

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Summary

Implementation Date: March 7, 2016

FINRA periodically reviews the content of qualification examinations to determine whether revisions are necessary or appropriate in view of changes—including changes to the laws, rules and regulations—pertaining to the subject matter the examinations cover. Based on this review process, FINRA has revised the General Securities Sales Supervisor (Series 9/10) examination program.

The changes are reflected in the Series 9/10 content outline on FINRA’s website and will appear in Series 9/10 examinations administered on or after March 7, 2016.

See the attached pdf, for the full text:

pdf FINRA_Notice_16-02.pdf

FINRA Notice 16-01

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Summary

Payment Deadline: January 15, 2016

FINRA is issuing this Notice to help firms review, reconcile and respond to their Final Statements as well as view the reports that are currently available in Web CRD/IARD for the annual registration renewal process. The payment deadline is January 15, 2016.

See the attached pdf, for the full text:

pdf FINRA_Notice_16-01.pdf

FINRA Notice 15-52

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Summary

December 2015

FINRA is issuing this Notice to remind firms and registered representatives of their obligations under Rule 603(c) of Regulation NMS (Vendor Display Rule) when providing quotation information to customers. The SEC staff recently made clear its view that if a registered representative provides a quotation to a customer that can be used to assess the current market or the quality of trade execution, reliance on non-consolidated market information as the source of that quotation would not be consistent with the Vendor Display Rule. In light of the SEC staff’s statements, firms should review whether they are in compliance with the requirement in the Vendor Display Rule that broker-dealers provide a consolidated display of market data when they are providing quotation information to customers.

See the attached pdf, for the full text:

pdf FINRA_Notice_15-52.pdf

FINRA Notice 15-51

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Summary

December 2015

Pursuant to rule amendments that will be effective February 1, 2016, FINRA is introducing a new category of trade submissions—clearing-only, non- regulatory reports—that firms can use to submit to clearing those OTC transactions in equity securities that have been previously reported through a FINRA facility.1 Clearing-only, non-regulatory reports cannot be used for regulatory reporting purposes. As such, firms can only use these reports where their regulatory reporting obligations to FINRA have been satisfied through other submissions (tape reports, i.e., submitted for public dissemination purposes, or non-tape reports).

The amended rule text is available in the online FINRA Manual.

See the attached pdf, for the full text:

pdf FINRA_Notice_15-51.pdf