FINRA Reg. Notice 12-14 FINRA seeks comment on a revised proposal to amend NASD Rule 2340 (Customer Account Statements) to address the per share estimated values at which unlisted Direct Participation Programs (DPPs) and unlisted Real Estate Investment Trusts (REITs) are reported on customer account statements. The revised proposal reflects changes based on comments to the amendments FINRA proposed in Regulatory Notice 11-44. Under the revised proposal, general securities members would no longer be required to provide a per share estimated value, unless and until the issuer provides an

CFTC SEC Joint Release 77 FR 13450 The CFTC and the SEC are jointly issuing proposed rules and guidelines to implement new statutory provisions enacted by Title X of the Dodd-Frank Act. These provisions amend section 615(e) of the Fair Credit Reporting Act and direct the CFTC and SEC to prescribe rules requiring entities that are subject to their jurisdiction to address identity theft in two ways. First, the proposed rules and guidelines would require financial institutions and creditors to develop and implement a written identity theft prevention program that is designed to detect, prevent

FINRA Reg. Notice 12-13 The SEC approved FINRA's proposed rule change to adopt FINRA Rules 5310 (Best Execution and Interpositioning) and 6438 (Displaying Priced Quotations in Multiple Quotation Mediums) in the consolidated rulebook (Consolidated FINRA Rulebook). FINRA Rule 5310 is the new consolidated rule governing members' best execution requirements that is based largely on NASD Rule 2320 (Best Execution and Interpositioning). The Supplementary Material to Rule 5310 draws substantially from NASD IM-2320 (Interpretive Guidance with Respect to Best Execution Requirements) but includes

FINRA Reg. Notice 12-12 The SEC approved amendments to FINRA’s Code of Procedure. The amendments are procedural in nature and include the following, in addition to several more minor changes: allowing service of a complaint (and notices of certain expedited proceedings) on counsel when counsel agrees to accept such service; permitting electronic filing of papers with an adjudicator; requiring an attorney seeking to withdraw from a disciplinary case to file a motion before withdrawal would be approved; allowing hearing officers to manage the parties’ pre-hearing submissions to reduce and

FINRA Reg. Notice 12-11 The SEC approved the adoption of new FINRA Rule 4524 (Supplemental FOCUS Information), which requires each firm, as FINRA shall designate, to file such additional financial or operational schedules or reports as FINRA may deem necessary or appropriate for the protection of investors or in the public interest as a supplement to the FOCUS Report. The SEC also approved the adoption of one such schedule, the Supplemental Statement of Income (SSOI), as a supplement to the Statement of Income (Loss) page of the FOCUS Report. Dates: The implementation date of FINRA Rule 4524