FINRA summarized its latest notices, compliance resources and news in a monthly recap podcast.
Notices
- Regulatory Notice 16-10: FINRA and the MSRB reminded firms of their obligations involving the private placement of municipal securities directly with single purchasers.
- Regulatory Notice 16-11: The SEC approved FINRA's proposal to amend the instructions for the Derivatives and Other Off-Balance Sheet Items Schedule (the "OBS"). The changes expand the coverage of the OBS to include certain non-carrying and non-clearing firms that have significant off-balance sheet obligations. Those firms must file their initial OBS disclosing off-balance sheet details on or before August 2, 2016.
- Regulatory Notice 16-12: FINRA provided guidance on responsibilities of firms to supervise the sale of pension income stream products and related investor protection issues.
- Regulatory Notice 16-13: The SEC issued revised no-action guidance for broker-dealers or when they may treat certain foreign equity securities as having a ready market, and when those securitites are subject to haircuts.
- Regulatory Notice 16-14: FINRA announced its implementation date for publishing block-size trade data from alternative trading systems ("ATS") on the FINRA website. The new service is part of FINRA's ATS transparency initiative. Beginning on October 3, 2016, FINRA will publish monthly ATS block-size trading statistics on all national market system stocks.
- Regulatory Notice 16-15: FINRA announced the implementation of a new rule that provides FINRA staff with the authority to grant an exemption from TRACE trade reporting obligations to a member of an ATS when the obligations meet specific conditions.
Compliance Resources
- FINRA is conducting a survey about how listeners use its podcast. To submit comments, click here.
- FINRA published its first-quarter data tables in the TRACE Fact Book.
- FINRA developed a new report titled " Cross Market Equities Supervision Potential Manipulation Report."
Education
- FINRA released its latest Quarterly Disciplinary Review podcast.
- The FINRA Annual Conference will take place from May 23 to May 25 in Washington, D.C.
- It is now possible to register for FINRA's 2016 Foundations of Web CRD/IARD Training Sessions.
- The schedule for the 2016 FINRA Institute at Wharton's Certified Regulatory and Compliance Professional Program is now available.
- FINRA's Fixed Income Conference will be held on September 7, 2016, in New York City.
- FINRA's 2016 Small Firm Conference will be held on November 9 and 10 in Phoenix, Arizona.
News
- The FINRA Securities Helpline for Seniors marked its one-year anniversary. Four thousand calls were fielded during the first year of the helpline's operation.
- FINRA barred a registered representative for unethical conduct in a money-laundering scheme.
- FINRA issued an Investor Alert about required minimum distributions.
- The FINRA Investor Education Foundation partnered with the Filene Research Institute and six local credit unions for employer-sponsored small-dollar loan research. Together, the partners will study the impact of employers' small loans that are designed to help employees avoid costly payday lenders.
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