FINRA Podcast: June 2015 Monthly Recap of FINRA Notices and Selected SEC Rule Approvals
FINRA released a podcast summarizing the latest FINRA notices, compliance resources, and news from June 2015.
The podcast highlights recent regulatory notices, including:
- Notice 15-21, which details the SEC's approval of FINRA amendments pertaining to the codes of arbitration procedure. The changes increased the fees for late hearing cancellation or postponement, which applies to cases filed on or after July 6.
- Notice 15-25, which describes how FINRA updated its list of interpretations of financial and operational rules, based on Exchange Act rule interpretations SEC staff had communicated to FINRA.
- Notice 15-23, which mentions that FINRA provided limited relief regarding subscription-way transactions. Specifically, the relief noted that firms can now hold a customer's check payable to the issuer for up to seven business days but only under certain circumstances.
- Notice 15-22, which deals with FINRA's request for comments on a revised proposal to adopt a consolidated FINRA rule about discretionary accounts and transactions.
- Notice 15-24, which explains how FINRA is requesting comments on the reduction of the delay period for historic trace data. As detailed in the notice, it would go down from 18 months to six months.
The podcast also highlights, among other things, additional SEC-approved rulemakings, including an approved proposal by FINRA to require firms to do public background checks on their FINRA registration applicants within 30 days of filing.
See: Transcript of FINRA Podcast; Listen to Podcast.