On December 22, 2023, FINRA issued a regulatory notice reminding member firms of net capital, recordkeeping, and financial reporting requirements in connection with revenue recognition practices.  FINRA monitored its member firms and noticed that some firms were not complying with…

In response to SEC amendments adopted on August 23, 2023, the Financial Industry Regulatory Authority (FINRA) has proposed a short-form membership application process. The SEC amendments made some changes, including removing the gross income exemption, which had previously allowed firms…