FINRA Podcast: April 2013 Monthly Recap
FINRA released a podcast on its latest notices, compliance resources and news from April 2013. See below.
Notices
- SEC approved amendments to FINRA rules on trading and quotation halts in OTC equity securities (Reg. Notice 13-13);
- SEC approved amendments to FINRA transaction reporting rules (Reg. Notice 13-15);
- Securities Industry Regulatory Council on Continuing Education released its Spring 2013 firm advisory (Reg. Notice 13-14);
- FINRA's extension of the effective date for certain new data elements for electronic bluesheets (new date: November 1, 2013) (Reg. Notice 13-16);
- FINRA's collection of 2013 Governmental Accounting Standards Board Accounting Support Fee (Reg. Notice 13-17);
- FINRA Chairman and CEO Richard Ketchum's email on rulemaking items discussed at the Board of Governors' meeting (available on the website).
Education
- FINRA's new e-learning course entitled Annual Compliance Reminders for Registered Representatives;
- FINRA released the third and fourth episodes of its four-part podcast on regulatory and examination priorities;
- Reminder that individuals can still register for FINRA's annual conference (www.finra.org education).
News
- FINRA filed a temporary cease-and-desist Order against success trade securities and its CEO to halt fraud involving the misuse of investor funds and assets, including those of many NBA and NFL players;
- FINRA filed a complaint charging John Thomas Financial and its CEO for a number of violations, including fraud and failing to execute customer orders to share its own shares;
- FINRA fined Merrill Lynch $1,000,000 and ordered restitution for the failure to provide customers with best execution in non-convertible preferred securities transactions and for lacking an adequate supervisory system;
- FINRA Chairman and CEO Ketchum spoke at the National Compliance Outreach Program for Broker-Dealers regarding complex products, conflicts of interest and FINRA's exam program;
- Susan Axelrod was named FINRA's Executive Vice President of regulatory operations;
- FINRA released a new investor podcast about the merits of rainy-day funds (titled "Softening the Blow").
Listen to Podcast here (links externally to FINRA website).