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FINRA to Issue Six New Rulemaking Proposals

FINRA's Board of Governance approved the issuance of six new rule proposals. They include:

  • Amendments to permit FINRA to publish aggregated TRACE volume data on transactions in U.S. Treasury Securities.

  • Amendments to FINRA's Code of Procedure to compensate members of hearing panels, regardless of the length of the hearing.

  • Amendments to various provisions of the Rules for Capital Acquisition Brokers (the "CAB Rules").

  • A new rule requiring firm approval for a registered individual to act as beneficiary, executor, or trustee on behalf of a customer.

  • Amendments to FINRA's Codes of Arbitration Procedure to create a roster of arbitrators with enhanced training and experience. The arbitrators would serve on a panel determining requests by broker-dealer personnel to expunge information from customer disputes.

  • Amendments to the rules governing Inter-Dealer Quotation Systems that display quotes in unlisted equity securities.

Primary Sources

  1. FINRA Press Release: Report from FINRA Board of Governors Meeting

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Tags

Regulated Activities
Arbitration / Litigation Trade Reporting Trading
Sub-Activity
Expungement of Information, SEA Rule 15c2-11, TRACE
Regulated Entities
Broker-Dealers
Sub-Entity
Capital Acquisition Brokers
Regulated Products
Penny Stocks / Small Caps Debt
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
FINRA