National Adjudicatory Council

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On March 31 and April 1, the Financial Industry Regulatory Authority (FINRA) proposed rule changes that would extend the expiration date for temporary amendments that (1) provide relief to individuals functioning as a principal or operations professional, (2) provide relief to FINRA staff from certain enforcement and procedural requirements, and (3) allow virtual hearings.
Continue Reading FINRA Proposes Extension of Temporary COVID-19 Related Amendments

On October 20, the National Adjudicatory Council (NAC) of the Financial Industry Regulatory Authority (FINRA) revised the Principal Considerations in Determining Sanctions section of the FINRA Sanction Guidelines to expressly contemplate a customer’s age or physical or mental impairment. In connection therewith, FINRA released Regulatory Notice 20-37.
Continue Reading FINRA Releases Regulatory Notice on Revised NAC Sanction Guidelines

The Financial Industry Regulatory Authority, through the National Adjudicatory Council (NAC), has revised the FINRA Sanction Guidelines that hearing panels and the NAC use in determining appropriate remedial sanctions for FINRA members in disciplinary proceedings. Among other changes, the revised Sanction Guidelines include the following additions:

  • three new guidelines: Supervision—Systemic Supervisory Failures, Borrowing From or

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On May 12, the Financial Industry Regulatory Authority announced that the National Adjudicatory Council (NAC) revised its Sanction Guidelines to call for tougher sanctions against those who commit fraud or make unsuitable recommendations to customers.
Continue Reading FINRA’s NAC Strengthens Sanction Guidelines Related to Fraud and Suitability