In a podcast on its regulatory activities in November 2016, FINRA summarized its latest notices, firm compliance information and investor education initiatives.
FINRA reminded firms of the SEC's recent approval of a rule amendment to create a new academic corporate bond trace data product. Starting on February 27, 2017, FINRA will make the Academic Corporate Bond TRACE Data Product available with enhanced historical trace data to higher-education institutions on a fee-only basis.
FINRA also reminded firms that a new rule, which became effective on November 11, 2016, requires a firm that hires or associates with a registered representative to provide an educational communication prepared by FINRA to certain former customers of the representative. This communication must be provided if the firm contacts a former customer of that representative individually to transfer assets, or if that representative's former customer, absent individual contact, transfers assets to an account that is or will be assigned to the representative at the firm.
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