Filing Extensions – Annual Reports and FOCUS Reports

Due to the coronavirus pandemic (COVID-19), FINRA is providing temporary relief for member firms from rules and requirements in the Frequently Asked Questions below. The relief provided does not extend beyond the identified rules and requirements. FINRA will continue to monitor the situation to determine whether additional guidance and relief may be appropriate. As coronavirus-related risks decrease, member firms should expect to return to meeting any regulatory obligations for which relief has been provided. When appropriate, FINRA will publish a Regulatory Notice announcing a termination date for the regulatory relief that will provide member firms with time to make necessary operational adjustments.

Read below updates from FINRA on Filing Extensions – Annual Reports and FOCUS Reports:

https://www.thorntonandassociates.com/wp-content/uploads/2020/03/2020-03-FINRA-FOCUS-and-Audit-due-dates.pdf

COVID-19 / Coronavirus

FINRA recognizes the significant impacts that the spread of coronavirus disease (COVID-19) may have on member firms, investors and other stakeholders. 

FINRA is committed to providing guidance, updates and other information to help stakeholders stay informed about the latest developments.  New information will be posted on the link below as it becomes available.

https://www.finra.org/rules-guidance/key-topics/covid-19

FINRA Requests Comments on Proposed Amendments to the Capital Acquisition Broker (CAB) Rules

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.

View Full Notice Here:

Heightened Terror Threat Risk

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.

View Full Notice Here:

Final Statements for Broker-Dealers, Investment Adviser Firms, Agents and Investment Adviser Representatives, and Branches

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.

View Full Notice Here:

2020 Holiday Margin Extensions Schedule

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. 

View Full Notice Here:

Notice of SFAC Election and Mailing of Ballots

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.
  • View Full Notice Here: