November 2012 Monthly Compliance and News Recap (FINRA Podcast)

FINRA's podcast of its November monthly compliance and news recap. See below:

Notices

• Change of effective date of TRACE rule;
• Through TRACE, FINRA has started TBA transaction informations (Reg. Notice 12-48);
• SEC approved amendments to FINRA rules to conform to the JOBS Act (Reg. Notice 12-49);
• SEC approved FINRA Stop Order Rule Amendments (Reg. Notice 12-50).

Resources

• Review of compliance with FINRA rules prohibiting trading ahead of customer orders;
• Review of impact of firms' operations post-Sandy;
• Public comments by FINRA executives.

Education (links on FINRA website)

• New e-learning course on AML Compliance Obligations;
• 2013 Fixed-Income Conference and Annual Conference registrations;
• Free online webinar with FINRA Chairman Ketchum on 2012 major regulatory activities review.

News

• Chairman Ketchum statement on SEC leadership changes;
• Memorandum of Understanding ("MoU") with the Japan Securities Dealers Association for more robust cooperation;
• Cease and Desist Order against WR Rice Financial Services for fraudulent conduct;
• FINRA expelled Hudson Valley Capital Management, barred CEO for defrauding a clearing firm and its customers;
• Complaint against TWS Financial President and Owner for fraudulent scheme targeting Brooklyn's Polish community;
• In the wake of Sandy, FINRA issued two sets of guidance to help customers understand margin and 401K issues.

Click here to listen to the podcast.