FINRA Podcast: September 2014 Monthly Recap

FINRA released a podcast summarizing the latest FINRA notices, compliance resources and news from September 2014.

The podcast highlighted recent regulatory notices, including:

• Notice 14-35, requesting comments on a revised proposal to combine NASD and NYSE customer account statement rules into one consolidated FINRA rule;
• Notice 14-36, announcing that FINRA will no longer provide historical research reports for over-the-counter bulletin board securities and will add fees for OTC reporting facility trade reporting and data when it moves to the multi-product platform on November 17, 2014; and
• Notice 14-37, requesting comments on a rule proposal to implement the automated risk data system called CARDS, which would standardize how FINRA gathers information from firms. The comment deadline is December 1, 2014.

FINRA also reminded firms of its upcoming conferences, and noted that it posted new guidance for using the alternative trading system OATS for trade reporting when firms are required to use a unique identifier called MPID.

See: Podcast; Transcript of Podcast.Related news: FINRA Requests Comments on Revised Proposal Regarding Customer Account Statements (Reg. Notice 14-35) (with Lofchie Comment) (September 16, 2014); CFTC Issues Two No-Action Letters Providing Relief to CPOs of Pools Organized as Delaware Statutory Trusts (CFTC Letters 14-35 and 14-36) (March 25, 2014); FINRA Requests Comment on Rule Proposal to Implement CARDS (FINRA Reg. Notice 14-37) (with Lofchie Comment) (September 30, 2014).