FINRA

SEC: Old Transfer Agent Rules Apply to New Blockchain

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The US Securities and Exchange Commission’s decision to register blockchain-enabled transfer agents has resurrected the issue of how it can apply securities laws to a nascent unproven technology. San Francisco-based Securitize has laid claim to being the first “agent” registered by the SEC to have developed an open-source blockchain based protocol for shareholder recordkeeping with […]

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Crypto-Miners: Are They Broker-Dealers or Math Geeks?

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If it quacks like a duck, it’s a duck, right. But does it quack? That’s the question broker-dealer Templum Markets has raised to the US Securities and Exchange Commission about crypto-miners which has polarized the crypto-community into deciding whether they should be regulated as broker-dealers. Fueling the debate are conflicting interpretations of the Securities and […]

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Crypto-Miners: Are They Broker-Dealers or Math Geeks?

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If it quacks like a duck, it’s a duck, right. But does it quack? That’s the question broker-dealer Templum Markets has raised to the US Securities and Exchange Commission about crypto-miners which has polarized the crypto-community into deciding whether they should be regulated as broker-dealers. Fueling the debate are conflicting interpretations of the Securities and […]

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FINRA: E-Mail Oversight Needs Quantity and Quality

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  Reasonable. How is a US broker-dealer’s compliance manager supposed to interpret that word when it comes to overseeing the firm’s e-mail correspondence. With some difficulty and much deliberation on quantity and quality as shown by the Financial Industry Regulatory Authority’s recent US$32,000 fine and censure of Utah-based broker-dealer Wilson-Davis which specializes in microcap stocks. […]

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FINRA: E-Mail Oversight Needs Quantity and Quality

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  Reasonable. How is a US broker-dealer’s compliance manager supposed to interpret that word when it comes to overseeing the firm’s e-mail correspondence. With some difficulty and much deliberation on quantity and quality as shown by the Financial Industry Regulatory Authority’s recent US$32,000 fine and censure of Utah-based broker-dealer Wilson-Davis which specializes in microcap stocks. […]

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Consolidated Audit Trail: Those Messy Data Linkages

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US brokerage operations managers are quickly turning their attention to how they will meet the cumbersome requirements for data linkages now that the Financial Industry Regulatory Authority (FINRA) has been stepped in at the eleventh hour to operate the new consolidated audit trail (CAT). The initial phase-in of CAT — 2a and 2b– starting in […]

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AML Exams: Data Quality Takes Center Stage

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Data integrity and integration. The popular terms used in trade and post-trade operations are quickly making their way into the world of anti-money laundering compliance as financial firms prepare for more stringent regulatory exams. With the number and value of fines growing, buy-side and sell-side firms are returning to the basics of evaluating their data […]

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FINRA’s TBA Margin Rules: Stuck in Government Limbo

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Collateral operations and compliance managers at US broker-dealers, fund managers and banks are on edge over the status of a critical margin rule stuck in the pile of countless unresolved measures during the partial government shutdown. At issue is whether the Financial Industry Regulatory Authority’s new Rule 4210 affecting agency mortgage-backed securities and similar assets […]

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SEC To CEOs: Keep Track of Chief Compliance Officers

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Chief compliance officers at US broker-dealers had better get used to answering a lot more questions from their chief executive officers about how well they are doing their jobs. The US Securities and Exchange Commission has just sent brokerage CEOs a subtle warning: we could hold you legally liable for failing to supervise your chief […]

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FINRA: Customer Protection Applies to Digital Assets

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The US Financial Industry Regulatory Authority could soon be offering broker-dealers some badly-needed guidance on how they should handle cryptocurrencies and similar products. Industry sources tell FinOps Report that FINRA is in discussions with the Securities and Exchange Commission’s Department of Trading and Markets about FINRA crafting a regulatory notice informing broker-dealers how to apply […]

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