FINRA adopted amendments to provide margin relief for specified index option positions, referred to as "protected options."
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The PCAOB found that there is a need for significant improvement in the quality of broker-dealer "audits and attestation engagements."
The SEC extended to March 15, 2024 the period for consideration on FINRA-proposed amendments to margin requirements for certain short options.
FINRA reminded firms that SEC rules govern how a firm's net worth must be calculated, recorded and reported. In a Regulatory Notice, FINRA offered guidance on applying financial accounting standards to revenue recognition from contracts with customers.
House Financial Services Committee Chair Patrick McHenry (R-NC) and a bipartisan group of legislators asked banking regulators to clarify "through guidance and other actions" that an SEC Staff Accounting Bulletin, which describes how a custodian must account for digital assets, is not enforceable.