FINRA Podcast Recaps Monthly Regulatory Activities
FINRA summarized its latest notices, firm compliance information, investor education initiatives and other news in a recap of its monthly regulatory activities.
The FINRA podcast covers the following developments:
Notices
- The SEC approved amendments to FINRA's Communications with the Public Rule that will require a firm to include on all of its web sites a readily apparent reference and hyperlink to BrokerCheck. The amendments will become effective on June 6, 2016.
- FINRA introduced a new category of trade submissions called "clearing-only, nonregulatory reports" in Regulatory Notice 15-51.
- As outlined in Regulatory Notice 15-52, the SEC staff provided insights into firms' obligations when providing stock quotes to customers.
- FINRA announced election results and appointments for the Small-Firm Advisory Board, the National Adjudicatory Council and the District Committee.
- FINRA announced the report-filing due dates for 2016 and the first quarter of 2017.
- FINRA released its 2016 Holiday Trade Date, Settlement Date and Margin Extension Schedule.
Resources for firms
- FINRA's Board of Governors met on December 16 to discuss a number of issues that included rulemaking items, and FINRA's year-end financial results and accomplishments in 2015.
- FINRA launched its Securities Help Line for Seniors.
- FINRA implemented three changes to the S101 Regulatory Element Continuing Education Program on January 4, 2016. The changes added a self-selection module based on job function, made the program available online, and consolidated the Equity Trader and Proprietary Trader Registrations into the Securities Trader Registration S57.
- The SEC staff issued a no-action letter allowing firms and over-the-counter derivative dealers to file electronically certain required annual and supplemental reports.
Education
- FINRA released two new podcasts that are part of a series on Research Conflicts Rules and that relate to both equity research adn to thew new debt research rule.
- Two podcasts are part of a series on FINRA's Fall 2015 Firm Element Advisory Update. The series covers topics such as communications with the public, dispute resolution and municipal securities.
- FINRA issued a report on Cybersecurity Practices. The report is intended to help firms prioritize their cybersecurity threat responses and is based on a targeted examination of firms and other related initiatives. The report also focuses on key points such as risk assessment, incident-response plans and staff training.
- FINRA released a new e-learning course about private securities transactions.
FINRA News
- FINRA issued new research on U.S. corporate bond liquidity.
- The FINRA Dispute Resolution Task Force issued its final report.
- FINRA issued a report on a securities helpline for seniors. The report covers how the program works and describes the ways in which it complements FINRA's broader regulatory programs.
- FINRA announced former President of the Federal Reserve Bank of Philadelphia Charles Plosser as its new Public Board Member.
Investor News
- FINRA released a new investor podcast about financial planning. The podcast explains various rules that fall into that category and makes recommendations such as checking financial planners' credentials with FINRA's professional designations look-up tool in order to understand what individual planners offer.
- FINRA and the SEC released an investor alert that contains 10 questions for investors to ask about securities-backed lines of credit. Questions highlighted in the alert include the following: whether an investment mix matters, and how a broker is compensated for loans.