On June 16, 2014, the Financial Industry Regulatory Authority, Inc. (“FINRA”) accepted a Letter of Acceptance, Waiver and Consent (the “AWC”) from Merrill Lynch, Pierce, Fenner & Smith Incorporated (the “Firm”) regarding an...more
As part of an assessment of selected rules and related administrative processes, FINRA has issued Regulatory Notice14-15 and Regulatory Notice14-14 seeking public comment on the effectiveness and efficiency of its (a) Gifts...more
FINRA filed with the SEC proposed amendments to FINRA Rule 2210, related to communications with the public, and FINRA Rule 2214, which sets forth requirements for the use of investment analysis tools (the “Amendments”). ...more
In Regulatory Notice 14-09, FINRA requested public comment on a proposal to adopt a narrower set of rules (the “Proposed LCFB Rules”) for member firms that meet the definition of “limited corporate financing broker” (each, an...more
On January 28, 2014, the Financial Industry Regulatory Authority, Inc. (“FINRA”) accepted a Letter of Acceptance, Waiver and Consent (the “AWC”) from a member firm, Banorte-Ixe Securities International, Ltd. (the “Firm”), and...more
On February 4, 2014, the Financial Industry Regulatory Authority, Inc. (“FINRA”) accepted a Letter of Acceptance, Waiver and Consent (the “AWC”) from a member firm (the “Firm”) and its former anti-money laundering (“AML”)...more
On January 9, 2014, FINRA made a filing with the SEC (SR-2014-003) that proposes to amend Rule 5110 to: (1) narrow the scope of the definition of “participation or participating in a public offering;” (2) modify the lock-up...more
In a letter to all FINRA member firms (the “FINRA Priorities Letter”), FINRA set forth its regulatory and examination priorities for 2014, highlighting significant risks and issues that could adversely affect investors and...more
The SEC has issued an order (the “Order”) approving an amendment (the “Amendment”) to FINRA Rule 5131 relating to New Issue Allocations and Distributions (the “Rule”). (The text of the Amendment is available in Exhibit 5 of...more
The SEC issued a rule proposal designed to fulfill a mandate under the 2012 Jumpstart Our Business Startups (“JOBS”) Act to adopt rules that implement changes to the federal securities laws under the JOBS Act that permit...more
FINRA, in Regulatory Notice 13-29, requested comment on a revised proposal (the “Revised Proposal”) to transfer the NASD Rule 1010 Series (“Membership Proceedings Rules”), with substantive changes, into the consolidated FINRA...more