A broker-dealer settled FINRA charges for (i) conducting a municipal securities business without becoming a member of the MSRB and (ii) failing to amend its FINRA membership application prior to conducting private placement offerings.

A Federal Reserve Board policy that states that the Board will exercise its discretion under the Federal Reserve Act to limit state member banks to engaging as principal in only those activities that are permissible for national banks became effective on February 7, 2023.

Comments on proposed amendments to the Supplemental Standards of Ethical Conduct for Members and Employees of the Securities and Exchange Commission are due by March 31, 2023.

The Financial Information Forum urged FINRA to adopt a FINRA proposed version of TRACE reporting requirements for delayed Treasury spot trades.

In a supplemental Comment Letter in response to a FINRA proposed rulemaking on disclosure of order routing information, the Financial Information Forum offered recommendations on how execution venues can satisfy the reporting requirements for trade messages sent through, and quotes posted on, an inter-dealer quotation system for OTC Equity Securities.