Retrospective Rule Reviews Underway on Communications with the Public and Gifts and Gratuities Rules
On the heels of a wave of newly-launched regulatory Rules involving Supervision and other areas, the Financial Industry Regulatory Authority (“FINRA”) is taking a step back to reassess its process of reviewing past rules in a process called “retrospective rule … Read More
New Consolidated Supervision Rules, Part I: FINRA Rule 3110
The Securities and Exchange Commission (“SEC”) has recently approved the Financial Industry Regulatory Authority’s (“FINRA’s”) proposed new consolidated rules for Supervision and Supervisory Control Systems. These FINRA rules – issued as Rules 3110, 3120, 3150, and 3170, to replace regulatory … Read More
Data Collection of Sensitive Information Restricted by FINRA for CARDS Program
At the beginning of March 2014, the Financial Industry Regulatory Authority (“FINRA”) announced that they would amend their proposal, pursuant to Regulatory Notice 13-42, for a Comprehensive Automated Risk Data System (“CARDS”) to include restrictions on the amount of sensitive … Read More
FINRA Revives BrokerCheck Proposal
At the Financial Industry Regulatory Authority (“FINRA”) Board of Governors meeting held on February 13, 2014, a previously withdrawn rule change proposal was revived that would require brokerage firms to incorporate a link to “BrokerCheck” on their public websites and … Read More
SEC Charges Two Wall Street Traders Involved in Parking Scheme
On February 4, 2014, the Securities and Exchange Commission (“SEC”) announced charges against two traders involved in a “parking” scheme in which one trader temporarily placed securities in the other’s trading book in order to bypass a policy at his … Read More
Risk Management Update Profile – Identifying Conflicts of Interest for Broker-Dealers
At the end of each month, Core Compliance & Legal Services, Inc. (“Core Compliance”) publishes a Risk Management Update (RMU), an in-depth article written by one of our staff members on a current relevant topic in the compliance, securities and … Read More
SEC Announces National Seminar for IA Compliance Outreach Program on January 30, 2014
The beginning of the year 2014 is upon us, and the Securities and Exchange Commission (“SEC”) has announced the date and open registration for the agency’s Compliance Outreach Program (“COP”) annual National Seminar in Washington, D.C., to be held on … Read More
