PROVIDING COMPLIANCE PRODUCTS & SOLUTIONS
PROVIDING COMPLIANCE  PRODUCTS & SOLUTIONS 

FINRA Notices

Notices

Regulatory Notice 21-15 (Fri, 09 Apr 2021)
Summary With the recent increase in the number of customers seeking to open brokerage accounts and trade options, FINRA reminds members of the requirements for determining whether to approve a customer to trade options. Regardless of whether the account is self-directed or options are being recommended, members must perform due diligence on the customer and collect information about the customer to support a determination that options trading is appropriate for the customer.
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Special Notice – 3/26/21 (Fri, 26 Mar 2021)
Summary FINRA has multiple committees that facilitate effective engagement with its member firms and representatives of the public regarding regulatory and policy initiatives related to FINRA’s mission of promoting market integrity and investor protection in a manner that promotes vibrant capital markets.
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Regulatory Notice 21-14 (Thu, 25 Mar 2021)
Summary FINRA warns member firms that, over the past two months, we have observed a sharp increase in new customers opening online brokerage accounts and engaging in Automated Clearing House (ACH) “instant funds” abuse to effect securities trading. (FINRA has previously warned firms about trends in losses from schemes involving electronic funds transfers, such as those involving outbound wire transfers and ATM withdrawals.1)
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Regulatory Notice 21-13 (Wed, 24 Mar 2021)
Summary This Notice announces, effective immediately, clarifications of interpretations of FINRA margin requirements regarding day trading (Rule 4210(f)(8)(B)(ii)). Questions concerning this Notice should be directed to:
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FINRA Monthly Recap

Exam and Risk Monitoring Program: Responding to COVID-19 and Looking Ahead (Tue, 06 Apr 2021)
Last year, as FINRA staff looked to adjust to a new exam and risk monitoring program structure, the industry and the world was struck with an unprecedented global crisis.  On this episode, the second in a two-part series, we hear from Ornella Bergeron, senior vice president of the carrying and clearing and diversified firm groups; Tom Nelli, senior vice president of exams and standards; Bill St. Louis, senior vice president of the retail and capital markets firm groups; and Tim Thompson, senior vice president of the trading and execution firm group on how FINRA adjusted its Exam and Risk Monitoring program in the face of a global pandemic. Then, we turn to the current year to talk about the new 2021 Report on FINRA’s Examination and Risk Monitoring Program to discuss insights on recent exam findings and priorities for the year ahead.  Resources mentioned in this episode: Episode 79: Year in Review: The 2020 Exam and Risk Monitoring Program 2021 Report on FINRA’s Examination and Risk Monitoring Program
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Year in Review: The 2020 Exam and Risk Monitoring Program (Tue, 23 Mar 2021)
2020 was a year of great change and transition for FINRA’s Exam and Risk Monitoring Program—and the pandemic wasn’t even the start of it.  On this episode, the first in a two-part series, we hear from Ornella Bergeron, senior vice president of the carrying and clearing and diversified firm groups; Tom Nelli, senior vice president of exams and standards; Bill St. Louis, senior vice president of the retail and capital markets firm groups; and Tim Thompson, senior vice president of the trading and execution firm group on how the program fared in its first year after a major transformation. Resources mentioned in this episode: Episode 50: What to Expect: The 2020 Exam and Risk Monitoring Program Episode 49: A Career Highlight: Exam and Risk Monitoring Program Transformation Update FINRA Announces Senior Leadership Team Under New Examination and Risk Monitoring Program Structure Note: The audio was updated on Thursday, March 25, 2021, for clarity.
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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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