On April 9, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-15 (Notice) in response to the recent increase in the number of customers seeking to open brokerage accounts and trade options.
Continue Reading FINRA Reminds Members About Options Account Approval, Supervision and Margin Requirements
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FINRA Files With the SEC to Extend Time to Announce the Implementation Schedule for FINRA’s Corporate Bond New Issue Reference Data Service
By Susan Light & Shelby Kost on
Posted in Broker-Dealer
On April 12, the Financial Industry Regulatory Authority (FINRA) filed a proposed rule change with the Securities and Exchange Commission pursuant to Section 19(b)(3) of the Securities Exchange Act of 1934 to extend its time to announce the implementation schedule for FINRA’s corporate bond new issue reference data service.
On January 15, the SEC approved…
FINRA Publishes Answer to Frequently Asked Questions Under Rule 4521(d) on Margin Balance Reporting
By Susan Light & Shelby Kost on
Posted in Broker-Dealer, Derivatives
On April 13, the Financial Industry Regulatory Authority (FINRA) issued answers to several Frequently Asked Questions to aid members with their reporting obligations under FINRA Rule 4521(d) (the Rule).
The Rule provides that each member carrying margin accounts for customers must submit, on a settlement date basis, as of the last business day of the month: 1) the total of all debit balances in securities margin accounts; and 2) the total of all free credit balances in all cash accounts and all securities margin accounts.…
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NFA Proposes Compliance Rule 2-50 and Related Interpretive Notice
Posted in CFTC
On March 5, the National Futures Association (NFA) submitted to the Commodity Futures Trading Commission (CFTC) proposed new Compliance Rule 2-50 and a related Interpretive Notice. …
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SEC Announces 2021 Examination Priorities
By Susan Light & Shelby Kost on
Posted in Broker-Dealer
On March 3, the Securities and Exchange Commission’s Division of Examinations announced its examination priorities for 2021. These priorities include a greater focus on climate-related risks, conflicts of interests for brokers and investment advisers, and attendant risks related to FinTech.…
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SEC Announces New Climate and ESG Task Force
By Susan Light & Shelby Kost on
Posted in Broker-Dealer
On March 4, the Securities and Exchange Commission announced the creation of its new Climate and ESG Task Force within the Division of Enforcement. …
Continue Reading SEC Announces New Climate and ESG Task Force