Regulatory Notice 20-04

Summary:

FINRA’s CAB rules provide a simplified rulebook for broker-dealers that engage only in limited capital advisory, corporate restructuring and private placement activities. FINRA is requesting comment on proposed amendments to the CAB rules to make them more useful to CABs without reducing investor protection.

Questions regarding this Notice should be directed to: 

• Joseph P. Savage, Vice President and Counsel, Office of Regulatory Analysis, at (240) 386-4534.

Questions regarding the Economic Impact Assessment in this Notice should be directed to: 

• Meghan Burns, Associate Principal Analyst, Office of Chief Economist, at (202) 728-8062.

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Information Notice – 1/23/20

Summary:

The United States Department of Homeland Security (DHS) has issued a bulletin under the National Terrorism Advisory System summarizing the heightened risk of potential cyber and physical attacks by Iran against the United States.¹ This Notice outlines steps firms may consider taking to be prepared and respond to any cyber attacks and other business disruptions that may occur.

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Regulatory Notice 20-01

Summary:

FINRA is issuing this Notice to help firms review, reconcile and respond to their Final Statements in E-Bill as well as view the reports that are currently available in Web CRD/IARD for the annual registration renewal process. The payment deadline is January 17, 2020.

Please direct questions concerning this Notice to the FINRA Call Center at (301) 869-6699.

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Information Notice – 12/9/19

Summary:

FINRA is publishing this Notice to assist firms with making accurate submissions in connection with requests for Federal Reserve Board Regulation T, SEA Rule 15c3-3 and FINRA Rule 4210 extensions of time around holidays when exchanges or banks are closed. The schedule included in this Notice specifies the due dates for filing requests of extensions of time prior to and after a holiday when the exchanges or banks are closed in 2020.  

Questions regarding this Notice may be directed to Theresa Reynolds, Senior Credit Regulation Coordinator, ROOR, at (646) 315-8567. 

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See below our updated Annual PCAOB Certified Audit Checklist.

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Regulatory Notice 19-35

Payment Deadline: December 16, 2019

Summary:

The 2020 Renewal Program begins on November 11, 2019, when FINRA makes the Preliminary Statements available to all firms in E-Bill. Preliminary Statements are not mailed to firms.

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Election Notice – 10/21/19

Ballot Due Date: November 20, 2019

Executive Summary

The purpose of this Election Notice is notify FINRA small firm members that ballots to elect one New York Region representative to the Small Firm Advisory Committee (SFAC) have been mailed to all eligible firms. FINRA small firm members¹ in the New York Region as of the close of business on Friday, October 18, 2019, are eligible to vote in these elections. All eligible firms are urged to vote in this election.

Ballots are due by Wednesday, November 20, 2019.

Attachment A lists the individuals certified by FINRA’s Corporate Secretary as satisfying the requirements to be a candidate for the New York Region SFAC election. Additional information about each candidate is available at www.finra.org/sfac/candidateprofiles.

Questions regarding this Election Notice may be directed to:

• Jennifer Piorko Mitchell, Vice President and Deputy Corporate Secretary, at (202) 728-8949 or via email; or
• Chip Jones, Senior Vice President, Member Relations and Education, at (240) 386-4797.
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Information Notice – 10/2/19

Summary:

Several member firms recently notified FINRA that they have experienced email account takeovers (ATOs) while using cloud-based email platforms, including Microsoft Office 365 (O365). Attackers used compromised email accounts to defraud member firms by requesting fraudulent wire requests or stealing confidential firm information or non-public personally identifiable information (PII). 

This Notice outlines the attackers’ tactics in executing ATOs, as well as steps taken by member firms to address ATO risks when using cloud-based email systems.

Questions concerning this Notice should be directed to:

• David Kelley, Surveillance Director, at (816) 802-4729.

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Regulatory Notice 19-31

Summary:

This Notice responds to questions that FINRA has received from members about how they can comply with FINRA rules when communicating with customers—particularly when using websites, email and other electronic media—while ensuring fair and balanced presentations. Our goal is to facilitate simplified and more effective disclosure in communications with the public.

FINRA welcomes the opportunity to consult with members about expanding their use of alternative and innovative design techniques—such as technology that offers customized information—in their marketing communications to help investors better understand their products and services. We are interested in ways that members can make communications more interesting and informative and how, together, we can improve the effectiveness of disclosure. Firms are encouraged to contact the Advertising Regulation Department directly at (240) 386-4500 to discuss these approaches.

Questions concerning this Notice should be directed to:

• Joseph E. Price, Senior Vice President, Corporate Financing/Advertising Regulation, at (240) 386-4623;
• Thomas A. Pappas, Vice President, Advertising Regulation, at (240) 386-4553; or
• Amy C. Sochard, Senior Director, Advertising Regulation, at (240) 386-4508.

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David A. Greene, the former head of the Financial Industry Regulatory Authority in Los Angeles, replaces Brian A. Stern, who will be leaving the company at the end of the year.

Read more here!