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Stories of Interest
- FINRA Board of Governors - Election Notice
- Trump Signs Biggest Rollback of Bank Rules Since Financial Crisis
- SEC Commissioners Hold Investor Town Hall in Atlanta
- SEC Proposes FAIR Act Rules to Promote Research Reports on MFs, ETFs, Other Funds
- FINRA Markup/Markdown Analysis Report - Phone Workshop, WebEx Presentation
- NASAA Announces Coordinated International ICO and Crypto Crackdown
- New York Investment Advisor Settles SEC Insider Trading Charges
- Supreme Court Backs Companies Over Worker Class-Action Claims
- Bank of America Introduces Erica, Its AI Financial Assistant
- Banks Are Getting Another Volcker Rule Win
- Citigroup to Pay $7.3Mn Fine for Substandard IPO Work
- FINRA Stretches Definition of Participating in a Private Securities Transaction - Bill Singer
- Post Mortem Auto-Pilot Trading Sends Stockbroker's Career into Head-On Regulatory Crash
- Wells Fargo Has Shown Us Its Contemptible Values
- UBS to Counter Trading Troubles With M&A Work
- SEC Moves Quickly To Shut Down Fake Pre-IPO Share Scam
- SEC Testimony: Oversight of the SEC Division of Enforcement
- FINRA Modifies 'Agency Debt Security' in Rule 6710
- Is Jamie Dimon Doing a U-Turn on Bitcoin?
- After New Yorker's Racist Rant Goes Viral, His Law Firm Gets Pummeled with 1-Star Yelp Reviews
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NEWSLETTERS & ALERTS
Rules & Regulations
FINRA Board of Governors Meeting (May 9-10)
The FINRA Board of Governors held its 2nd of five planned meetings for 2018. According to FINRA President and CEO Robert Cook, the Board, among other things: (i) approved 2 new rule proposals; (ii) previewed a draft of FINRA’s 2017 Annual Financial Report (to be published in June); and, (iii) conducted it annual review of the membership of FINRA’s advisory committees.
RULE PROPOSAL: Discovery of Insurance Information in Arbitration. FINRA would amend the Discovery Guide’s Firm/Associated Persons Document Production List to require firms and associated persons, upon request, to produce documents concerning 3rd-party insurance coverage. The proposal seeks to address firms’ concerns about prejudice by limiting the circumstances under which insurance coverage information could be presented to arbitrators. [comments to be requested in a Regulatory Notice]
RULE PROPOSAL: TRACE Dissemination of Agency Debt Securities. FINRA would amend Trade Reporting and Compliance Engine (TRACE) rules to expand the definition of “Agency Debt Security” to address a new issuance structure by government-sponsored enterprises (“GSE”) and modify dissemination protocols to apply the $5 million volume dissemination cap to all Agency Debt Securities.