FINRA Updates Financial Interpretations to Reflect Single Issuer Exemption for Broker-Dealer Annual Reports

FINRA updated its "Interpretations of Financial and Operational Rules" to clarify an annual reporting exemption for certain broker-dealers.

On August 13, 2019, the SEC amended Exchange Act Rule 17a-5 to clarify that a broker-dealer that acts as an agent for a single issuer does not need an independent public accountant to certify its annual reports (see prior coverage). FINRA updated its "Interpretations of Financial and Operational Rules" to reflect that change.