Key SEC Examination Priorities for 2025November 6, 2024As we approach 2025, it’s essential for firms to stay informed about the SEC's examination priorities, which continue to evolve. While many priorities remain consistent with previous years, new focal points have emerged that firms should be aware of. Here’s…
Fact Sheet: FinCEN Issues Final Rule to Combat Illicit Finance and National Security Threats in the Investment Adviser SectorAugust 28, 2024The Financial Crimes Enforcement Network (FinCEN) has introduced a final rule aimed at safeguarding the investment adviser sector from illicit finance activities, including exploitation by criminals, foreign adversaries, and other threats related to money laundering and terrorism financing. This rule now classifies certain registered investment…
Regulatory Notice 24-09: FINRA’s Guidance on Generative AI and Large Language ModelsJuly 24, 2024Published on June 27, 2024, FINRA Regulatory Notice 24-09 provides key reminders for member firms using Generative AI (Gen AI) and Large Language Models (LLMs) in their operations. While these technologies offer significant potential to enhance services and efficiency, firms…
June 2024 Options Disclosure DocumentJuly 10, 2024FINRA has informed member firms that the Options Clearing Corporation has released the June 2024 Options Disclosure Document (ODD). The ODD provides investors with essential information about the features and potential risks of trading standardized options. The June 2024 Options…
FINRA RSL UpdateMay 16, 2024Are you looking for updates on the Residential Supervisory Location (RSL) Designation? FINRA recently released an updated FAQ about RSLs. These FAQs offer a quick go-to guide for broker-dealers who want to use the RSL designation. The first day firms…
FINRA Regulatory Notice 24-05March 20, 2024FINRA Adopts Amendments to Improve the Accessibility of Order Routing Disclosures for NMS Securities Background and Discussion Exchange Act Rule 606(a) was implemented by the U.S. Securities and Exchange Commission (SEC) to promote transparency in the securities industry. Under this…
FINRA Regulatory Notice 24-04March 6, 2024New SEC Rules and Amendments Shorten the Standard Securities Transaction Settlement Cycle to T+1 The Securities and Exchange Commission (SEC) recently implemented new rules and amendments that aim to shorten the standard securities transaction settlement cycle to T+1. This means…
FINRA Adopts Residential Supervisory Location and Remote Inspections Pilot Program, and Announces End of Temporary Relief Related to Updates of Office Information on Forms U4 and BRFebruary 14, 2024In accordance with FINRA Rule 3110.19, a private residence may be designated as a Residential Supervisory Location (RSL) under certain eligibility conditions. These conditions include, but are not limited to, the requirement that the associated person's direct supervisor must approve…
Proposed FINRA Advertising Rule 2210 ChangeJanuary 31, 2024FINRA — the Financial Industry Regulatory Authority, Inc. — has proposed changes to FINRA Rule 2210, governing communications with the public. Currently, FINRA member broker-dealers cannot include performance projections or target returns in institutional communications or communications to qualified purchasers.…
Staying Ahead of the Curve: Key Takeaways from FINRA’s 2024 Annual Regulatory Oversight ReportJanuary 24, 2024The Financial Industry Regulatory Authority (FINRA) recently released its 2024 Annual Regulatory Oversight Report, offering valuable insights into the organization's regulatory activities and key areas of focus for member firms. This report is a must-read for anyone in the broker-dealer…
