News & Insights

146 News Results
January 15, 2015

FINRA released the third and final podcast in a series on topics to consider when planning Firm Element training, as identified in the CE Council's Fall 2014 Firm Element Advisory. The podcast focused on topics including: new changes to Clearly Erroneous Execution Rules for SROs to address multi-day clearly erroneous events and transactions occurring during trading holds; additional certifications under FINRA information compliance rules, which now require firms to certify that they are not accepting payment from an issuer for publishing a quotation or acting as a market maker as outlined in

August 31, 2015

FINRA's adoption of former NASD Rule 3040 as FINRA Rule 3280 ("Private Securities Transactions of an Associated Person") in the consolidated FINRA Rulebook "without any substantive changes" was published in the Federal Register. Like NASD Rule 3040, FINRA Rule 3280 states that, prior to participating in any private securities transaction, any person associated with a FINRA member must provide written notice to the member with which he or she is associated. FINRA Rule 3280 is effective immediately, but comments may be submitted until September 21, 2015.

November 11, 2015
Commentary by Steven Lofchie

SEC approval of amendments to FINRA Rule 8312 ("FINRA BrokerCheck Disclosure") was published in the Federal Register. Under the rule change, the fifteen-day waiting period for the release of negative information on Form U5 through BrokerCheck will be reduced to three days. The purpose of the reduction is to expedite public disclosures of any negative information about a broker-dealer employee.

November 17, 2015

An SEC request for comment on FINRA's proposed rule change to establish an examination fee for the Securities Trader Qualification Examination (Series 57) was published in the Federal Register. The SEC specified that the proposed rule change would be effective upon filing. Comments on the rule change must be submitted by December 7, 2015.

November 19, 2015

FINRA announced SEC approval for, and provided firms with, information about the Securities Trader registration category and qualification examination ("Series 57"). It also provided information regarding the Securities Trader Principal registration category, the Series 57 examination fee and the implementation of new registration categories, as well as the Regulatory Element Continuing Education (CE) Program for Securities Traders. Candidates for the Series 57 examination will be able to schedule and take the examination beginning on January 4, 2016