Notices

Special Notice – 4/19/24 (Fri, 19 Apr 2024)
Summary FINRA conducts annual elections to fill positions on the Small Firm Advisory Committee (SFAC), Regional Committees, National Adjudicatory Council (NAC) and FINRA Board of Governors (Board). This Notice provides:
>> Read more

Trade Reporting Notice 3/22/24 (Fri, 22 Mar 2024)
Summary FINRA is providing advance notice of future updates to its equity trade reporting guidance in connection with upcoming enhancements to the FINRA equity trade reporting facilities to support reporting of fractional share quantities. Under the updated guidance, members engaged in fractional share trading will be required to report fractional share quantities up to six digits after the decimal.
>> Read more

Regulatory Notice 24-08 (Tue, 19 Mar 2024)
Summary FINRA has amended FINRA Rule 4210 (Margin Requirements) to establish a specified exception under the margin rules with respect to certain short option or warrant positions on indexes that are written against products that track the same underlying index. Referred to as “protected” option or warrant positions, the new exception conforms with similar provisions Cboe recently adopted. The amendments are effective as of the date of issuance of this Notice.
>> Read more

Regulatory Notice 24-07 (Tue, 12 Mar 2024)
Summary In February 2012, pursuant to an SEC order, FINRA established an accounting support fee (GASB Accounting Support Fee) to adequately fund the annual budget of the Governmental Accounting Standards Board (GASB). The GASB Accounting Support Fee is collected on a quarterly basis from member firms that report trades to the Municipal Securities Rulemaking Board (MSRB).
>> Read more

Preparing for Change: What to Know About the Shift to T+1 (Tue, 16 Apr 2024)
On May 28th, U.S. markets are moving to a one-day settlement cycle, familiarly known as T+1. This move, which returns the settlement time frame back to a point at which it last stood a century ago, will have wide ranging impacts for firms, investors and regulators.  On this episode, we hear from James Barry, Director of Credit Regulation with FINRA's Office of Financial and Operational Risk Policy, Bobby Gomez, a Senior Director with Market Regulation and Transparency Services' Strategic Initiatives team, Mike MacPherson, a Senior Advisor in Member Supervision's Risk Monitoring group, and John Nachmann, Associate General Counsel with the Office of General Counsel's Regulatory Practice, to discuss what all market participants need to be thinking about and testing ahead of the transition. Resources mentioned in this episode: Episode 127: Understanding the Unique Risks of Every Firm DTCC: The Key to T+1 Success Blog Reg Notice 23-15: Regulation T and SEA Rule 15c3-3 Extension Technical Notice: T+1 Settlement Testing FINRA Margin Regulation FINRA Investor Insight: Understanding Settlement Cycles 2024 Annual Regulatory Oversight Report
>> Read more

A Cybersecurity Update with FINRA's Complex Investigations and Intelligence Team (Tue, 02 Apr 2024)
These days, it's not a matter of if, but when, when it comes to cybersecurity incidents, which is why it's essential for all firms to ensure they're prepared for the inevitable.  On this episode, we're catching up with Bryan Smith, the new senior vice president of FINRA’s Complex Investigations and Intelligence (CII) team and Brita Bayatmakou, vice president of the Cyber and Analytics Unit within CII, for an update on CII, the cyber threat landscape and what firms should be thinking about and doing in response to the latest trends. Resources mentioned in this episode: FINRA's FBI Cyber Threat Briefings (Next Briefing: April 22) Episode 112: Introducing FINRA’s Complex Investigations and Intelligence Team CISA Alerts and Advisories FBI Internet Crime Complaint Center: Industry Alerts Reg Notice 21-29: Obligations Related to Outsourcing to Third-Party Vendors
>> Read more