PROVIDING COMPLIANCE PRODUCTS & SOLUTIONS
PROVIDING COMPLIANCE  PRODUCTS & SOLUTIONS 

FINRA Notices

Notices

Regulatory Notice 21-21 (Thu, 17 Jun 2021)
Summary Effective September 1, 2021, FINRA is amending its rulebook to eliminate the Order Audit Trail System (OATS) rules in the FINRA Rule 7400 Series and FINRA Rule 4554 (Alternative Trading Systems — Recording and Reporting Requirements of Order and Execution Information for NMS Stocks) (collectively referred to as the “OATS Rules”). FINRA has determined that the accuracy and reliability of the Consolidated Audit Trail (CAT) meet the standards approved by the SEC and has determined to retire OATS as of September 1, 2021.
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Regulatory Notice 21-20 (Mon, 07 Jun 2021)
Summary FINRA warns member firms of an ongoing phishing campaign that involves fraudulent emails (see sample in Appendix) purporting to be from FINRA and using the domain name “@gateway-finra.org.” The email asks the recipient to click a link to “view request” and provide information to “complete” that request, noting that “late submission may attract penalties.” FINRA recommends that anyone who clicked on any link or image in the email immediately notify the appropriate individuals in their firm of the incident.
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Election Notice – 6/4/21 (Fri, 04 Jun 2021)
Executive Summary The annual meeting of FINRA firms will take place on or about Wednesday, September 1, 2021, to elect one Large Firm Governor, one Mid-Size Firm Governor, and one Small Firm Governor to the FINRA Board of Governors (FINRA Board). A formal notice of the meeting, including the precise date, time and location, will be mailed to executive representatives on or about Monday, August 2, 2021. 
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Regulatory Notice 21-19 (Fri, 04 Jun 2021)
Summary FINRA is requesting comment on potential enhancements to its short sale reporting program.  FINRA is considering: (1) modifications to its short interest reporting requirements (Rule 4560); (2) a new rule to require that participants of a registered clearing agency report to FINRA information on allocations to correspondent firms of fail-to-deliver positions; and (3) other potential enhancements related to short sale activity.
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FINRA Monthly Recap

Building Board Diversity: FINRA’s Ongoing Commitment (Tue, 15 Jun 2021)
Diversity has been a focus for FINRA’s Board of Governors for several years—and while the current Board makeup leaves a lot to be proud of, the important work of diversity remains a perpetual work in progress. On this episode, we sit down with Marcia Asquith, Executive Vice President of Board & External Relations, and Jennifer Piorko Mitchell, Vice President of Corporate Governance and Deputy Corporate Secretary, to explore how FINRA has prioritized diversity in the boardroom.  Resources mentioned in this episode: Episode 25: Behind the Scenes: FINRA's Board of Governors FINRA Governance 2021 Election Process Overview FINRA Indication of Interest in Service Form FINRA’s Racial Justice Task Force Statement of the FINRA Board of Governors
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2021 Annual Conference: Robert Cook and Eileen Murray Fireside Chat (Tue, 01 Jun 2021)
The 2021 FINRA Annual Conference was like no other with the event held entirely online. Nonetheless, like in any other year, the event provided the opportunity for practitioners, peers and regulators to connect and exchange ideas.  On this episode, we’re taking you behind the scenes of this year’s event to listen in on the fireside chat between FINRA CEO Robert Cook and FINRA Board Chair Eileen Murray as they talk about everything from return to work and the future of the workforce to the work of FINRA Board of Governor and diversity, equity and inclusion.  Resources mentioned in this episode: Episode 12: How the Cloud has Revolutionized FINRA Technology Episode 68: Augmenting the Exam and Risk Monitoring Program with Data Analytics and Technology 2021 Virtual Technology Conference 2022 FINRA Annual Conference  McKinsey Study: Jobs Lost, Jobs Gained Statement of the FINRA Board of Governors: June 11, 2020
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CONTACT US

Augusto “Gus” Macedo

Managing Director

 

11201B Lockwood Drive

Silver Spring, Maryland  20901

Tel: 301-523-6427

 

AMC classified NAICS codes:

  • 522120 - Savings Institutions
  • 522130 - Credit Unions
  • 523110 - Investment Banking and Securities Dealing
  • 523120 - Securities Brokerage
  • 523210 - Securities and Commodity Exchanges
  • 523910 - Miscellaneous Intermediation
  • 523920 - Portfolio Management
  • 523930 - Investment Advice
  • 523991 - Trust, Fiduciary, and Custody Activities
  • 523999 - M
  • 522110 - Commercial Banking
  • iscellaneous Financial Investment Activities
  • 524113 - Direct Life Insurance Carriers
  • 524210 - Insurance Agencies and Brokerages
  • 525110 - Pension Funds
  • 525910 - Open-End Investment Funds
  • 611430 - Professional and Management Development Training

 

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