A broker-dealer settled FINRA charges for failing to repair and resubmit rejected Reportable Order Events to the Order Audit Trail System.

In separate Orders, a municipal securities firm, the head of the firm's sales, trading and syndication group, and the head of the firm's syndicate desk settled SEC charges for inappropriately allocating municipal bonds to "flippers" ( i.e., unregistered brokers that buy and sell bonds at a profit).

Following the success of a prototype pilot, the Depository Trust & Clearing Corporation said that its "Project Ion" initiative to create a new settlement platform based on distributed ledger technology and shorten the settlement cycle will move into full development.

FINRA will review (i) firms' customer acquisition practices that utilize social media channels, and (ii) firm compliance with related obligations to protect customer information.

In a technical notice, FINRA urged members and vendors to prepare for the upcoming closure of the OTC Bulletin Board – the FINRA-operated inter-dealer quotation system – and the deletion of related rules.