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Firm Element

Resources

  1. FINRA Regulatory Notice 11-49
    FINRA Provides Guidance on Advertising Regulation Issues
    Date posted: 12/7/2011
  2. FINRA Regulatory Notice 11-52
    FINRA Reminds Firms of Their Obligations Regarding the Supervision of Registered Persons Using Senior Designations
    Date posted: 12/7/2011
  3. FINRA Regulatory Notice 11-47
    Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update
    Date posted: 10/14/2011
  4. FINRA Information Notice 10/14/11
    Continuing Education Planning
    Date posted: 10/14/2011
  5. FINRA Regulatory Notice 11-44
    FINRA Requests Comment on Proposed Amendments to NASD Rule 2340 to Address Values of Unlisted Direct Participation Programs and Real Estate Investment Trusts in Customer Account Statements
    Date posted: 10/7/2011
  6. Finra Regulatory Notice 11-46
    FINRA to Require Electronic Submission of Annual Audit Reports Effective Date: November 8, 2011, for all annual audit reports with a fiscal year end on or after September 30, 2011
    Date posted: 10/3/2011
  7. Trade Reporting Notice - 9/23/2011
    Trade Reporting Transactions in OTC Equity Securities and Restricted Equity Securities
    Date posted: 9/26/2011
  8. FINRA Trade Reporting Notice - Trade Reporting Obligations
    FINRA Reminds Firms of Their Trade Reporting Obligations Relating to Customer Sales of Low-Value OTC Equity Securities
    Date posted: 9/26/2011
  9. FINRA Regulatory Notice 11-38 - Financial Responsibility
    Application of the SEC’s Financial Responsibility Rules in Response to the Downgrade of U. S. Long-Term Credit Rating by Standard & Poor’s
    Date posted: 8/8/2011
  10. MSRB NOTICE 2011-08
    REMINDER OF FEBRUARY 14, 2011 EFFECTIVE DATE FOR AMENDMENTS TO RULE G-32 RELATED TO SUBMISSION OF INFORMATION ABOUT CONTINUING DISCLOSURE UNDERTAKINGS UNDER EXCHANGE ACT RULE 15C2-12
    Date posted: 6/15/2011
  11. MSRB NOTICE 2010-56 (December 16, 2010)
    AMENDMENTS TO RULE G-32 RELATED TO SUBMISSION OF INFORMATION ABOUT CONTINUING DISCLOSURE UNDERTAKINGS EFFECTIVE FEBRUARY 14, 2011
    Date posted: 6/15/2011
  12. MSRB NOTICE 2010-32 (August 27, 2010)
    MSRB RECEIVES APPROVAL TO MODIFY THE CONTINUING DISCLOSURE SERVICE OF THE ELECTRONIC MUNICIPAL MARKET ACCESS ("EMMA") SYSTEM
    Date posted: 6/15/2011
  13. MSRB NOTICE 2010-19 (June 28, 2010)
    Reminder on Submissions of Disclosure Documents to EMMA for 529 College Savings Plans
    Date posted: 6/15/2011
  14. MSRB NOTICE 2010-15 (June 2, 2010)
    MSRB RECEIVES SEC APPROVAL TO MAKE AVAILABLE PRIMARY MARKET AND CONTINUING DISCLOSURE INFORMATION ON EMMA
    Date posted: 6/15/2011
  15. MSRB NOTICE 2010-37 (September 20, 2010)
    MSRB REMINDS FIRMS OF THEIR SALES PRACTICE AND DUE DILIGENCE OBLIGATIONS WHEN SELLING MUNICIPAL SECURITIES IN THE SECONDARY MARKET
    Date posted: 6/15/2011
  16. FINRA Regulatory Notice 10-41 - Municipal Securities
    FINRA Reminds Firms of Their Sales Practice and Due Diligence Obligations When Selling Municipal Securities in the Secondary Market
    Date posted: 6/15/2011
  17. MSRB NOTICE 2010-26 (August 15, 2010)
    PRIORITY OF ORDERS IN PRIMARY OFFERINGS PROPOSED RULE CHANGE APPROVED
    Date posted: 6/15/2011
  18. MSRB NOTICE 2010-01 (January 22, 2010)
    SEC APPROVES AMENDMENTS TO RULE G-37 AND RULE G-8 RELATING TO POLITICAL CONTRIBUTIONS
    Date posted: 6/15/2011
  19. MSRB NOTICE 2010-57 (DECEMBER 17, 2010)
    REMINDER: INTERPRETATION ON DEALER-CONTROLLED POLITICAL ACTION COMMITTEES UNDER RULE G-37
    Date posted: 6/15/2011
  20. CBOE - Regulatory Circular RG11-017
    Anti-Money Laundering Compliance Program
    Date posted: 6/15/2011
  21. CBOE Regulatory Circular RG10-101
    Master Accounts and Sub-Accounts
    Date posted: 6/15/2011
  22. FINRA Information Notice 2/7/11 - January 2011 Supplement to the Options Disclosure Document
    The SEC approved a supplement to the Options Disclosure Document (ODD) on January 12, 2011.
    Date posted: 6/15/2011
  23. CBOE - Regulatory Circular RG11-013
    Supplement to the Options Disclosure Document
    Date posted: 6/15/2011
  24. CBOE Regulatory Circular RG10-102
    FLEX Third Friday-of-the-Month Expiration Requirements
    Date posted: 6/15/2011
  25. CBOE Regulatory Circular RG10-111
    SPX “Weeklys” and End of Week (i.e. “Week-End”) Options
    Date posted: 6/15/2011
  26. CBOE/CBSX Regulatory Circular RG10-120
    Proposal Regarding Registration and Qualification Requirements for Trading Permit Holders and Associated Persons
    Date posted: 6/15/2011
  27. CBOE/CBSX Regulatory Circular RG10-105
    Statutory Disqualifications
    Date posted: 6/15/2011
  28. FINRA Regulatory Notice 10-36 - Options: Contrary Exercise Advice
    Amendments to Standardized Options Exercise Procedures and Extension of Contrary Exercise Advice Cut-Off Time Effective Date: September 7, 2010
    Date posted: 6/15/2011
  29. FINRA Regulatory Notice 11-06 - Reporting Requirements
    SEC Approves Consolidated FINRA Rule Governing Reporting Requirements
    Date posted: 6/15/2011
  30. FINRA Regulatory Notice 11-10 - Reporting Requirements
    FINRA Reminds Firms of Their Obligation to Electronically Report Specified Events and Quarterly Customer Complaint Information and Provides Additional Guidance on Automated Reporting Under FINRA Rule 4530
    Date posted: 6/15/2011
  31. FINRA Regulatory Notice 10-27 - Customer Complaint Reporting
    Changes to Customer Complaint Reporting Procedures Under NASD Rule 3070(c) and NYSE Rule 351(d)
    Date posted: 6/15/2011
  32. FINRA Regulatory Notice 10-34 - FINRA BrokerCheck
    SEC Approves Changes to Expand the Information Released Through BrokerCheck and Establish a Process to Dispute (or Update) Information Disclosed Through BrokerCheck
    Date posted: 6/15/2011
  33. FINRA Regulatory Notice 10-39 - Form U5
    Obligation to Provide Timely, Complete and Accurate Information on Form U5
    Date posted: 6/15/2011
  34. CBOE Regulatory Circular RG11-11
    Annual Reporting Pursuant to CBOE Rule 9.8 - Supervision of Accounts
    Date posted: 6/15/2011
  35. CBOE Regulatory Circular RG09-83
    Short Sales, Temporary Rule 204T of Regulation SHO Now Permanent
    Date posted: 6/15/2011
  36. FINRA Regulatory Notice 10-04 - Clearly Erroneous Transactions
    SEC Approves Consolidated FINRA Rules Governing Clearly Erroneous Transactions
    Date posted: 6/15/2011
  37. FINRA Regulatory Notice 10-43 - Single-Stock Circuit Breakers And Potentially Erroneous Trades
    Amendments to FINRA Rules on Trading Pauses Due to Extraordinary Market Volatility and Clearly Erroneous Transactions in Exchange-Listed Securities
    Date posted: 6/15/2011
  38. FINRA Regulatory Notice 10-23 - Trade Reporting and Compliance Engine (TRACE)
    SEC Approves Reporting Asset-Backed Securities Transactions to TRACE and Related Fees
    Date posted: 6/15/2011
  39. FINRA Regulatory Notice 10-55 - Trade Reporting and Compliance Engine (TRACE)
    FINRA Establishes a New Effective Date for Reporting Asset-Backed Securities to TRACE and Related Rule Changes. Effective Date: May 16, 2011
    Date posted: 6/15/2011
  40. FINRA Regulatory Notice 11-03 - Order Audit Trail System (OATS)
    FINRA Expands the Order Audit Trail System to All NMS Stocks. The implementation date has been delayed to October 3, 2011.
    Date posted: 6/15/2011
  41. FINRA Regulatory Notice 10-48 - Short Sales
    Amendments to FINRA Trade Reporting and OATS Rules to Re-institute Short Sale Exempt Marking and to Require Price and Short Exempt Identifier on Route Reports. Effective Date: November 10, 2010* *The effective date was extended to February 28, 2011
    Date posted: 6/15/2011
  42. FINRA Regulatory Notice 09-08 - Trade Reporting
    SEC Approves Amendments to FINRA Trade Reporting Rules Effective Date: August 3, 2009
    Date posted: 6/15/2011
  43. FINRA Regulatory Notice 10-24 - Trade Reporting
    SEC Approves Amendments to Require Reporting of OTC Trades in Equity Securities Within 30 Seconds of Execution. Effective Date: November 1, 2010
    Date posted: 6/15/2011
  44. FINRA Regulatory Notice 10-26 - Trade Reporting
    SEC Approves Amendments to Trade Reporting Requirements for Restricted Equity Securities and Revisions to the Definition of OTC Equity Security. Effective Date: June 28, 2010
    Date posted: 6/15/2011
  45. FINRA Regulatory Notice 10-29 - Trade Reporting
    SEC Approves Amendments to Rules on Reporting Transactions to the OTC Reporting Facility. Effective Date: November 1, 2010
    Date posted: 6/15/2011
  46. FINRA Trade Reporting Notice - 2/8/2010
    FINRA Extends Implementation of Amendments Requiring Related Market Center Indicator in Non-Tape Reports Submitted to FINRA Revised Effective Date:May 3, 2010.
    Date posted: 6/15/2011
  47. FINRA Regulatory Notice 09-54 - Trade Reporting
    SEC Approves Amendments Requiring Related Market Center Indicator in Non-Tape Reports Submitted to FINRA. Effective Date:March 1, 2010
    Date posted: 6/15/2011
  48. FINRA Regulatory Notice 10-30 - Trading-Pause Pilot Program
    SEC Approves Amendments Permitting FINRA to Halt Trading by Firms Otherwise Than on an Exchange Where a Primary Listing Market Has Issued a Trading Pause Due to Extraordinary Market Volatility. Effective Date: June 10, 2010
    Date posted: 6/15/2011
  49. FINRA Trade Reporting Notice - 9/17/2010
    Price Validation and Price-Override Protocol
    Date posted: 6/15/2011
  50. FINRA Trade Reporting Notice - August 14, 2008
    Trade Reporting Frequently Asked Questions
    Date posted: 6/15/2011
  51. FINRA Regulatory Notice 10-11 - Amendments to the Arbitration Rules Regarding Deficient Claims
    On March 22, 2010, the Codes of Arbitration Procedure for Customer and Industry disputes were amended to clarify that if a claim deficiency is corrected within 30 days from the time a party receives notice of a deficiency, the claim will be considered filed on the date the initial statement of claim was filed.
    Date posted: 6/14/2011
  52. FINRA Regulatory Notice 10-40
    Effective October 14, 2010, a non-party witness’ attorney may attend an arbitration hearing while the witness is testifying.
    Date posted: 6/14/2011
  53. FINRA Regulatory Notice 11-05
    Effective immediately, customers in FINRA arbitration have the option to choose an all public arbitration panel in all cases with three arbitrators.
    Date posted: 6/14/2011
  54. FINRA Regulatory Notice 10-37
    Effective September 27, 2010, FINRA will increase the number of proposed arbitrators available for review when parties choose arbitration panels from lists generated randomly by the Neutral List Selection System (NLSS).
    Date posted: 6/14/2011
  55. FINRA Regulatory Notice 11-02
    Effective July 9, 2012, The SEC approved FINRA’s proposal to adopt rules governing know-your-customer and suitability obligations for the consolidated FINRA rulebook. The new rules are based in part on and replace provisions in the NASD and NYSE rules.
    Date posted: 6/14/2011
  56. FINRA Regulatory Notice 10-49 SEC Approval and Effective Date for New Consolidated FINRA Rules
    In August and September 2010, the SEC approved three rule filings relating to the Consolidated FINRA Rulebook. FINRA Rule 5121 (Public Offerings of Securities With Conflicts of Interest) and the FINRA Rule 11000 Series (Uniform Practice Code) will take effect on December 15, 2010.
    Date posted: 6/14/2011
  57. FINRA Regulatory Notice 10-45 - Margin and Extension of Time Requests Effective December 2, 2010
    SEC Approval and Effective Date for New Consolidated FINRA Rules Regarding Margin Requirements, Daily Record of Required Margin, and Extension of Time Requests
    Date posted: 6/14/2011
  58. FINRA Regulatory Notice 10-60 - Approval of New Issue Rule
    SEC Approves New FINRA Rule to Address Abuses in the Allocation and Distribution of New Issues
    Date posted: 6/14/2011
  59. FINRA Regulatory Notice 10-22 - Regulation D Offerings
    FINRA reminds broker-dealers of their obligation to conduct a reasonable investigation of the issuer and the securities they recommend in offerings made under the Securities and Exchange Commission’s Regulation D under the Securities Act of 1933—also known as private placements.
    Date posted: 6/14/2011
  60. FINRA Regulatory Notice 10-38 - Obligation of Issuers to Provide Notice of Company- Related Actions
    SEC Approves New FINRA Rule Relating to the Processing of and Fees for Company-Related Actions for Non-Exchange-Listed Securities.
    Date posted: 6/14/2011
  61. FINRA Regulatory Notice 11-09 - Company-Related Actions
    New Electronic System for Submitting and Processing Company-Related Actions for Non-Exchange Listed Securities Under Rule 6490.
    Date posted: 6/14/2011
  62. FINRA Regulatory Notice 10-19 - Consolidated Reports
    FINRA Reminds Firms of Responsibilities When Providing Customers With Consolidated Financial Account Reports.
    Date posted: 6/14/2011
  63. FINRA Regulatory Notice 10-18 - Master Accounts and Sub-Accounts
    FINRA Issues Guidance on Master and Sub-Account Arrangements
    Date posted: 6/14/2011
  64. FINRA Regulatory Notice 10-61 - Independent Verification of Assets
    SEC Approves New FINRA Rule 4160 Relating to the Verification of Assets at a Non-Member Financial Institution Effective Date: February 1, 2011
    Date posted: 6/14/2011
  65. FINRA Regulatory Notice 10-46 - FOCUS Reporting
    Supplemental FOCUS Filing Requirement Applicable to Certain Joint Broker-Dealers/Futures Commission Merchants.
    Date posted: 6/14/2011
  66. FINRA Regulatory Notice - 10-44 - Financial and Operational Surveillance
    New Alert-Reporting Criterion for Leverage in FOCUS Reports
    Date posted: 6/14/2011
  67. FINRA Regulatory Notice 10-05 - Deferred Variable Annuities
    FINRA Reminds Firms of Their Responsibilities Under FINRA Rule 2330 for Recommended Purchases or Exchanges of Deferred Variable Annuities
    Date posted: 6/14/2011
  68. FINRA Regulatory Notice 10-53 - Margin Requirements
    Margin Requirements for Exempted Securities Mutual Funds and Exempted Securities ETFs.
    Date posted: 6/14/2011
  69. FINRA Regulatory Notice 10-08 - Customer Margin Accounts
    Filing Requirements for Members that Carry Customer Margin Accounts; New Customer Margin Balance Form
    Date posted: 6/14/2011
  70. CBOE Regulatory Circular RG09-141
    Alternative Margin Treatment Available for Writing Listed Equity Call Options Against Employee Stock Options
    Date posted: 6/14/2011
  71. FINRA Regulatory Notice 09-65 - Non-Traditional Exchange Traded Funds (ETFs)
    FINRA Delays the Effective Date for Increased Margin Requirements for Options on Leveraged ETFs and Day-Trading Requirements for Leveraged ETFs.
    Date posted: 6/14/2011
  72. CBOE Regulatory Circular RG09-132 Margin Requirements
    Update of RG09-097, Margin Requirements for Leveraged ETFs and Uncovered Options on Leveraged ETFs
    Date posted: 6/14/2011
  73. CBOE Regulatory Circular RG09-97
    Margin Requirements for Leveraged ETFs and Uncovered Options on Leveraged ETFs
    Date posted: 6/14/2011
  74. FINRA Regulatory Notice 09-53 - Non-Traditional ETFs
    Increased Margin Requirements for Leveraged Exchange-Traded Funds and Associated Uncovered Options
    Date posted: 6/14/2011
  75. MSRB NOTICE 2011-09 - AMENDMENTS TO RULES G-8 AND G-34
    AMENDMENTS TO RULES G-8 AND G-34 TO INCREASE TRANSPARENCY OF MUNICIPAL VARIABLE RATE SECURITIES EFFECTIVE MAY 16, 2011
    Date posted: 6/14/2011
  76. Private Placements of Securities - FINRA Regulatory Notice 11-04
    FINRA Requests Comment on Proposed Amendments to FINRA Rule 5122 to Address Member Firm Participation in Private Placements; Comment Period Expires: March 14, 2011
    Date posted: 1/1/2011
  77. CBOE Regulatory Circular 10-18
    Information Barriers of DPMs and eDPMs
    Date posted: 1/29/2010
  78. CBOE Regulatory Circular 10-18
    Information Barriers of DPMs and eDPMs
    Date posted: 1/29/2010
  79. FINRA Regulatory Notice 10-06
    Guidance on Blogs and Social Networking Web Sites
    Date posted: 1/25/2010
  80. FINRA Regulatory Notice 10-05
    FINRA Reminds Firms of Their Responsibilities Under FINRA Rule 2330 for Recommended Purchases or Exchanges of Deferred Variable Annuities
    Date posted: 1/21/2010
  81. FINRA Regulatory Notice 09-73
    FINRA Reminds Firms of Their Sales Practice Obligations Relating to Principal-Protected Notes
    Date posted: 12/17/2009
  82. FINRA Regulatory Notice 09-64
    Verification of Instructions to Transmit or Withdraw Assets from Customer Accounts
    Date posted: 11/13/2009
  83. CBOE Regulatory Circular RG09-122
    Supervision of Electronic Communications and Electronic Storage of Records
    Date posted: 10/28/2009
  84. FINRA Regulatory Notice 09-61
    Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update
    Date posted: 10/23/2009
  85. MSRB Notice 2009-50
    Notice Concerning Use of Electronic Confirmations Produced By a Clearing Agency or Qualified Vendor to Satisfy the Requirements of Rule G-15(a)
    Date posted: 9/16/2009
  86. CBOE Regulatory Circular RG09-100
    Prearranged Trades
    Date posted: 9/10/2009
  87. FINRA Regulatory Notice 09-51
    SEC Approves Amendments Relating to Recordkeeping and the Unsolicited Customer Order Exception of SEA Rule 15c2-11
    Date posted: 8/21/2009
  88. FINRA Regulatory Notice 09-40
    SEC Approval and Effective Dates for New Consolidated FINRA Rules on Electronic Filing Requirements for Uniform Forms and Arbitration Disclosures
    Date posted: 7/28/2009
  89. SEC Release No. 34-60388
    Amendments to Regulation SHO
    Date posted: 7/28/2009
  90. FINRA Regulatory Notice 09-28
    FINRA Reminds Firms of Their Obligation to Provide Accurate Information in Disseminating, or Using Services to Disseminate, Indications of Interest
    Date posted: 7/16/2009
  91. CBOE Regulatory Circular RG 09 – 060
    Continuing Education Firm Element Advisory
    Date posted: 5/26/2009
  92. FINRA Information Notice - May 20, 2009
    Continuing Education Planning
    Date posted: 5/20/2009
  93. FINRA Regulatory Notice 09-26
    Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update
    Date posted: 5/19/2009
  94. CBOE Regulatory Circular RG09 - 24
    Amendments to CBOE Rule 4.21, Third Party Deposits Prohibited
    Date posted: 2/17/2009
  95. FINRA Regulatory Notice 09-11
    SEC Approval and Effective Date for New Consolidated FINRA Rule on Trading Ahead of Research Reports
    Date posted: 2/17/2009
  96. FINRA Regulatory Notice 09-10
    SEC Approves Rule Relating to Supervision of Market Letters
    Date posted: 2/5/2009
  97. FINRA Regulatory Notice 09-09
    ustomer Account Statements and Due Diligence Requirements for Unlisted Real Estate Investment Trusts (REITs) and Direct Participation Programs (DPPs)
    Date posted: 2/4/2009
  98. SEC Release No. 34-59062
    Amendment to Municipal Securities Disclosure
    Date posted: 12/10/2008
  99. FINRA Regulatory Notice 08-74
    FINRA Provides Guidance on Amendments to FINRA Rules Relating to SEC Regulation M
    Date posted: 12/8/2008
  100. FINRA Regulatory Notice 08-73
    SEC Approves Amendments to NASD Rule 2220 to Update the Standards for Options Communications
    Date posted: 12/5/2008
  101. FINRA Regulatory Notice 08-63
    Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update
    Date posted: 10/31/2008
  102. NASAA Headline - 9/22/08
    Regulators Release New Report to Assist Financial Services Firms in Serving Older Investors
    Date posted: 9/22/2008
  103. SEC Final Rule 34-58464
    Exemption From Registration Under Section 12(g) of the Securities Exchange Act of 1934 for Foreign Private Issuers
    Date posted: 9/5/2008
  104. FINRA Regulatory Notice 08-30
    Guidance Relating to Illiquid Investments
    Date posted: 6/12/2008
  105. FINRA Regulatory Notice 08-29
    Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update
    Date posted: 6/2/2008
  106. FINRA Regulatory Notice 08-27
    The Obligation of Firms When Supervising their Registered Representatives' Use of Marketing Materials to Establish Expertise
    Date posted: 5/28/2008
  107. CBOE Regulatory Circular RG08-64
    Supplement to the Options Disclosure Document
    Date posted: 5/19/2008
  108. MSRB Notice 2008-23
    Notice of Filing of Proposed Rule Change To Require Underwriter Registration and Testing With DTCC’s NIIDS System
    Date posted: 5/9/2008
  109. MSRB Notice 2008-22
    SEC Approves Rule Changes to Require Underwriter Participation With DTCC’s NIIDS System
    Date posted: 5/1/2008
  110. FINRA Regulatory Notice 08-21
    FINRA Issues Guidance to Broker-Dealers on Partial Redemptions of Auction Rate Securities
    Date posted: 4/30/2008
  111. FINRA Regulatory Notice 08-17
    Reporting of Customer Complaints Relating to Auction Rate Securities
    Date posted: 4/8/2008
  112. FINRA Regulatory Notice 08-18
    Sound Practices for Preventing and Detecting Unauthorized Proprietary Trading
    Date posted: 4/8/2008
  113. FINRA Regulatory Notice 08-16
    Member Firm Disclosure and Supervisory Review Obligations
    Date posted: 4/7/2008
  114. NASAA Headline - 4/1/08
    State Securities Regulators Announce New Model Rule on the Use of Senior Certifications and Professional Designations - NASAA Also Voices Strong Support for the ‘Senior Protection Act of 2008’ and Applauds Sen. Herb Kohl’s Leadership in the Fight Against Senior Investment Fraud
    Date posted: 4/3/2008
  115. FINRA Regulatory Notice 08-09
    March 14, 2008 - FINRA Revises Portfolio Margining Risk Disclosure Statement and Written Acknowledgment for Customers Using Portfolio Margin Accounts - FINRA has revised the sample portfolio margining risk disclosure and acknowledgment statements that member firms must provide to customers who have been approved for portfolio margin. This replaces the March 2007 sample risk disclosure and acknowledgment statements.1 See Attachment A for the sample disclosure and acknowledgment statements.
    Date posted: 3/14/2008
  116. MSRB Notice 2008-14
    MSRB Files with SEC to Launch Pilot Electronic Municipal Market Access System (EMMA)
    Date posted: 3/7/2008
  117. FINRA Regulatory Notice 08-08
    FINRA Temporarily Increases Margin Maintenance Requirements on Auction Rate Securities Backed by Fixed Income Products
    Date posted: 3/6/2008
  118. NASAA Headline 2/8/08
    February 8, 2008 – NASAA Headline 2/8/08 - The Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) today announced a new initiative as part of securities regulators’ efforts to protect senior investors. The goal of the initiative is to identify effective practices used by financial services firms in dealing with senior investors, and to provide information about these practices publicly.
    Date posted: 2/19/2008
  119. MSRB Notice 2008-09
    Application of MSRB Rules to Transactions in Auction Rate Securities
    Date posted: 2/19/2008
  120. MSRB Notice 2008-06
    Reminder: New Supervisory Requirements Under Rule G-27
    Date posted: 2/7/2008
  121. MSRB Notice 2008-04
    Bond Insurance Ratings – Application of MSRB Rules
    Date posted: 1/22/2008
  122. FINRA Regulatory Notice 07-59
    December 12, 2007 - FINRA Provides Guidance Regarding the Review and Supervision of Electronic Communications - In June 2007, FINRA (then NASD and NYSE Member Regulation) issued for comment proposed guidance regarding the review and supervision of electronic communications. FINRA received 16 comment letters, with a majority of commenters supporting the guidance.
    Date posted: 12/12/2007
  123. SEC Final Rule: Release No. 33-8869
    December 6, 2007 - Revision to Rules 144 and 145 - Rule 144 under the Securities Act of 1933 creates a safe harbor for the sale of securities under the exemption set forth in Section 4(1) of the Securities Act. We are shortening the holding period requirement under Rule 144 for “restricted securities” of issuers that are subject to the reporting requirements of the Securities Exchange Act of 1934 to six months. Restricted securities of issuers that are not subject to the Exchange Act reporting requirements will continue to be subject to a one-year holding period prior to any public resale. The amendments also substantially reduce the restrictions applicable to the resale of securities by non-affiliates.
    Date posted: 12/6/2007
  124. CBOE Regulatory Circular RG07-128
    November 21, 2007 - Continuing Education Firm Element Advisory - The Securities Industry/Regulatory Council on Continuing Education ("Council") publishes a Firm Element Advisory ("FEA"), as a guide for members or member organizations to utilize when developing their continuing education Firm Element Training for covered registered persons and their supervisors. The Council has updated the FEA for firms to use in identifying topics to include in their Firm Element Training. Topics added to the FEA since the prior publication.
    Date posted: 11/23/2007
  125. FINRA Regulatory Notice 07-56
    November 19, 2007 - Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update - This Notice advises firms of the fourth quarter 2007 Securities Industry/Regulatory Council on Continuing Education Firm Element Advisory, which identifies regulatory and sales practice topics that firms should consider in their Firm Element training plans. Topics updated or added since the prior Advisory are indicated in the document as such. The updated Firm Element Advisory is available at www.cecouncil.com/publications/ council_publications/FEA_2007_Semi_Annual_Update.pdf.
    Date posted: 11/20/2007
  126. MSRB Notice 2007-29
    September 25, 2007 - MSRB Publishes Interpretive Letter Relating to Payments to Non-Political Accounts of Political Organizations Under Rule G-37 - The Municipal Securities Rulemaking Board has published an interpretive letter relating to Rule G-37, on political contributions and prohibitions on municipal securities business, with respect to payments to non-political accounts of political organizations. The text of the interpretive letter is included below. Questions regarding the interpretive letter may be directed to Ernesto A. Lanza, Senior Associate General Counsel, Jill C. Finder, Associate General Counsel, or Ronald W. Smith, Senior Legal Associate.
    Date posted: 9/26/2007
  127. NASAA Headlines - September 10, 2007
    September 10, 2007 - "Free Lunch" Investment Seminar Examinations Uncover Widespread Problems, Perils for Older Investors - WASHINGTON, D.C.-- During a Seniors Summit held today at the Securities and Exchange Commission, securities regulators released a joint report summarizing the results of their examinations of "free lunch" investment seminars.
    Date posted: 9/26/2007
  128. NASAA Headline - September 10, 2007
    September 10, 2007 - State Securities Regulators Issue Senior Investor Alert - NASAA says retirees and those nearing retirement remain vulnerable as they manage a lifetime of savings - WASHINGTON, D.C.—The North American Securities Administrators Association (NASAA) today issued a Senior Investor Alert warning that retirees and those nearing retirement can face serious traps as they manage the savings they have accumulated throughout their working years.
    Date posted: 9/26/2007
  129. NYSE Information Memo 07-75
    July 23, 2007 - Portfolio Margining Suitability - In connection with the recent amendments to NYSE Rule 431 governing Portfolio Margining, the attention of member organizations is directed to the need for care in the determination of suitability for the use of such accounts by individual investors and small institutional clients. This Information Memo will raise certain considerations which may guide this process.
    Date posted: 7/23/2007
  130. NYSE Information Memo 07-65
    July 3, 2007 - Amendments to NYSE Rules 342 and 343 - On June 29, 2007, NYSE filed, for immediate effectiveness, amendments to NYSE Rules 342 (“Offices – Approval, Supervision and Control”) and 343 (“Offices – Sole Tenancy, Hours, Display of Membership Certificates”) to eliminate the requirement that Exchange approval be obtained for the establishment of branch offices and for space-sharing arrangements within such offices. In addition, the amendments: eliminate the requirement that an NYSE “certificate of membership” be displayed in each branch office; conform Rule 342(c) to the definition of “branch office” as set forth in Rule 342.10; and delete the Interpretation of Rule 343 in its entirety (see Exhibit A and File No. SR-NYSE-2007-59).
    Date posted: 7/5/2007
  131. CBOE Regulatory Circular RG07-057
    May 22, 2007 - Continuing Education Firm Element Advisory - In the fourth quarter of each year, The Securities Industry/Regulatory Council on Continuing Education (“Council”) publishes annual Firm Element Advisory (“FEA”), as a guide for members or member organizations to utilize when developing their continuing education Firm Element Training for covered registered persons and their supervisors. The Council is now updating the FEA in the second quarter each year for firms to use in identifying topics to include in their Firm Element Training. Topics added to the FEA in the second quarter update will be flagged as such, and will also appear in the year-end FEA.
    Date posted: 5/22/2007
  132. NASD Notice to Members 07-26
    May 21, 2007 - Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update - In the fourth quarter of every year, the Securities Industry/Regulatory Council on Continuing Education (Council) publishes the annual Firm Element Advisory (FEA). The Council is now updating the FEA in the second quarter of each year. Topics added to the FEA in the second quarter update will be flagged as such, and will also appear in the year-end FEA.
    Date posted: 5/21/2007
  133. NYSE Information Memo 07-47
    May 21, 2007 - Continuing Education Firm Element Advisory Update - In the fourth quarter of each year, the Securities Industry/ Regulatory Council on Continuing Education (the "Council") publishes the Firm Element Advisory ("FEA") to identify current regulatory and sales practices for possible inclusion, where appropriate, in Firm Element training plans. These topics are routinely taken from a review of industry regulatory and self-regulatory organizations' publications and announcements of significant events. The most recent annual FEA was issued in November 2006.
    Date posted: 5/21/2007
  134. NYSE Information Memo 07-48
    May 21, 2007 - Amendments to Rule 440a ("Telephone Solicitations") Pertaining to "Facsimile Advertisements" - On May 10, 2007, the Securities and Exchange Commission (the “Commission”) approved amendments1 to NYSE Rule 440A (“Telephone Solicitations”) to reflect legislation2 passed by Congress concerning unwanted telemarketing communications. Specifically, the legislation restored an exemption from the general prohibition against sending unsolicited faxed advertisements which applies when the sender and the recipient have an established business relationship and other conditions are met. The amendments to Rule 440A are effective immediately.
    Date posted: 5/21/2007
  135. NASD Notice to Members 07-24
    May 15, 2007 - New Requirement for the Reporting of Consolidated Short Interest Positions to the Intermarket Surveillance Group (ISG) - This Notice to Members advises member firms that, effective September 2007, they are required to increase the frequency of short interest reporting from monthly to twice a month. Attachment A outlines the revised Short Interest Reporting Schedule for September 2007 through December 2007. Additionally, the short interest reporting rules of certain ISG self-regulatory organizations (SROs) are included as Attachment B.
    Date posted: 5/15/2007
  136. CBOE Regulatory Circular RG07-51
    May 9, 2007 - Supplement to the Options Disclosure Document - On May 3, 2007, the SEC approved a supplement to the Options Disclosure Document (“ODD”) regarding several issues.
    Date posted: 5/9/2007
  137. SEC Final Rule - Release No. 34-55643
    April 19, 2007 - Technical Amendments to Form BD and Form BDW - The Securities and Exchange Commission (“Commission” or “SEC”) is making technical amendments to Form BD and Form BDW, the uniform broker-dealer registration form and the uniform request for withdrawal from broker-dealer registration, respectively. The technical amendments will update the current list of self-regulatory organizations (“SROs”) and government jurisdictions listed on Form BD and Form BDW, and make conforming changes to the definition “jurisdiction” in the forms.
    Date posted: 4/19/2007
  138. NASD Notice to Members 07-17
    April 18, 2007 - NASD and NYSE Joint Release Regarding Special Measures against Specified Banks Pursuant to Section 311 of the USA PATRIOT Act - This is to inform members1 that the Financial Crimes Enforcement Network (FinCEN) has issued a final rule imposing a special measure,2 effective April 18, 2007, against Banco Delta Asia SARL, including its subsidiaries Delta Asia Credit Limited and Delta Asia Insurance Limited (Banco Delta Asia or bank).3 Banco Delta Asia is a commercial bank in Macau, Special Administrative Region, China. This measure is comparable to that imposed against the Latvian bank VEF Banka and its subsidaries, including Veiksmes lizings.
    Date posted: 4/18/2007
  139. NYSE Information Memo 07-34
    April 18, 2007 - NYSE And NASD Joint Release Regarding Special Measures Against Specified Banks Pursuant To Section 311 Of The USA Patriot Act - This is to inform members1 that the Financial Crimes Enforcement Network (FinCEN) has issued a final rule imposing a special measure,2 effective April 18, 2007, against Banco Delta Asia SARL, including its subsidiaries Delta Asia Credit Limited and Delta Asia Insurance Limited (“Banco Delta Asia” or “bank”).3 Banco Delta Asia is a commercial bank in Macau, Special Administrative Region, China. This measure is comparable to that imposed against the Latvian bank VEF Banka and its subsidiaries, including Veiksmes lîzings.
    Date posted: 4/18/2007
  140. SEC Final Notice – April 18, 2007
    April 18, 2007 - Covered Securities Pursuant to Section 18 of the Securities Act of 1933 - The Securities and Exchange Commission (“SEC” or “Commission”) is adopting an amendment to a rule under Section 18 of the Securities Act of 1933 (“Securities Act”) to designate securities listed, or authorized for listing, on the Nasdaq Capital Market tier of The NASDAQ Stock Market LLC (“Nasdaq”) as covered securities for purposes of Section 18 of the Securities Act. Covered securities under Section 18 of the Securities Act are exempt from state law registration requirements. The Commission also is making a correction to the rule text to conform it to the language of Section 18 of the Securities Act.
    Date posted: 4/18/2007
  141. CBOE Regulatory Circular RG07-45
    April 12, 2007 - Supplement to the Options Disclosure Document - On April 4 2007, the Securities and Exchange Commission (“SEC”) approved a Supplement to the Options Disclosure Document (“ODD”) regarding non-rate modified cash-settled foreign currency options and rate-modified cash-settled foreign currency options. This supplement supersedes and replaces the January 2007 supplement. A current copy of the ODD as amended to include the supplement must be delivered to all new options customers.
    Date posted: 4/12/2007
  142. CBOE Regulatory Circular RG07-43
    April 5, 2007 - Margin Requirements, Strategy-Based Margin Relief for Additional Types of Complex Spreads - In order to utilize the margin requirement prescribed in the Exchange margin rules for the above-named strategies, Exchange Rule 12.3(a) provides, among other things, that the interval between exercise prices is equal. For purposes of applying this provision, the Exchange has determined that, provided the interval between the 1st & 2nd exercise prices is equal to the interval between the 3rd and 4th exercise prices, the interval between the two middle exercise prices may be any amount greater than zero. In addition, the call exercise price may not be below the put exercise price in the case of the Short Iron Condor and Short Calendar Iron Condor spreads.
    Date posted: 4/5/2007
  143. NYSE Information Memo 07-27
    March 20, 2007 - Sample Portfolio Margining Risk Disclosure And Acknowledgment Statements - This Information Memo provides sample “portfolio margining risk disclosure” and “customer acknowledgement” text that member organizations may use to satisfy the requirements of NYSE Rule 431(g). As discussed more fully below, Rule 431(g) requires that such material (or “substantially similar” material) be provided to customers prior to opening a portfolio margin account.
    Date posted: 3/20/2007
  144. NASD Notice to Members 07-14
    March 20, 2007 - Portfolio Margin Risk Disclosure Statement and Written Acknowledgement to be Furnished to Customers Using a Portfolio Margin Account - As announced in Notice to Members (NTM) 07-11 (February 2007), recent amendments to NASD Rule 2520 (Margin Requirements) permit members to margin certain products according to a prescribed portfolio margin methodology on a pilot basis. Related amendments to Rule 2860 (Options) require that a disclosure statement and written acknowledgement for use with the proposed portfolio margin program be furnished to customers using a portfolio margin account.1 This Notice sets forth the language required for the written disclosure statement and acknowledgment pursuant to Rule 2860(c).
    Date posted: 3/20/2007
  145. CBOE Regulatory Circular RG07-34
    March 19, 2007 - Portfolio Margining - Disclosure Statement Required to be Furnished to Customers - The purpose of this Regulatory Circular is to prescribe a risk disclosure statement and acknowledgement form that is acceptable to the Exchange for delivery by member organizations to customers opening a portfolio margin account.
    Date posted: 3/19/2007
  146. NYSE Information Memo 07-18
    February 20, 2007 - Updated Supplement to The Options Disclosure Document - Recently, the Securities and Exchange Commission approved a Supplement (see Attachment) to the Options Disclosure Document (“ODD”). The Supplement is related to U.S. dollar-denominated foreign currency options (“USD FCOs”). These options are traded on the Philadelphia Stock Exchange (“Phlx”). The Supplement provides additional disclosure with regard to U.S. dollar settled foreign currency options. The Exchange is advising member organizations, pursuant to Rule 726.30 (“Delivery of Options Disclosure Documents and Prospectuses”), that the ODD Supplement has been amended.
    Date posted: 2/20/2007
  147. NASD Notice to Members 07-06
    February 14, 2007 - Special Considerations When Supervising Recommendations of Newly Associated Registered Representatives to Replace Mutual Funds and Variable Products - Registered representatives with an established customer base may, from time to time, change their association from one firm to another and may wish to bring with them customer assets, including mutual funds and variable products. In some cases these mutual funds or variable products may be held directly with the product issuer or they may be proprietary to the representative’s prior firm and the sponsor may not permit them to be transferred into the customer’s account at the new firm. Even nonproprietary products may not be freely transferable if the sponsor does not have a dealer or servicing agreement with the new firm.
    Date posted: 2/14/2007
  148. MSRB Notice 2007-08
    February 12, 2007 - MSRB Files Amendment to Rule Filing Relating to Advertisements of Municipal Fund Securities - The MSRB has filed with the Securities and Exchange Commission (“SEC”) an amendment to a previously filed proposed rule change consisting of (i) amendments to Rule G-21, on advertising, and Rule G-27, on supervision, and (ii) an interpretation on general advertising disclosures, blind advertisements and annual reports relating to municipal fund securities (the “proposed interpretive notice”).[1] The MSRB has filed this amendment after consultation with SEC staff.
    Date posted: 2/12/2007
  149. NASD Notice to Members 07-04
    January 24, 2007 - Codification of Interpretations to Rule 2711 - NASD has filed for immediate effectiveness a proposed rule change to codify certain interpretations under Rule 2711 (Research Analysts and Research Reports). The interpretations include many that previously were set forth in two joint interpretive memoranda. The proposed rule changes also include additional interpretations regarding the definition of research report, the distribution of third-party research through soft-dollar arrangements, and the supervisory requirements with respect to the distribution of both member research and third-party research. This Notice also contains two additional interpretations of the Rule 2711 provisions that prohibit research analysts from participating in the solicitation of investment banking business and road show presentations.
    Date posted: 1/24/2007
  150. NYSE Information Memo 07-11
    January 24, 2007 - Codification of Interpretations To Rule 472 - On September 27, 2006, the NYSE filed with the SEC for immediate effectiveness amendments to NYSE Rule 472 (“Communications With The Public” or the “Rule”). This rule filing (the “Filing”) was done in coordination with the National Association of Securities Dealers (“NASD”), which made substantially similar changes to NASD Rule 2711. The amendments to Rule 472 codify existing NYSE interpretive guidance contained in previously circulated joint NYSE/NASD memoranda and make certain non-substantive, technical changes, where necessary, to clarify the rule's intended meaning. The Filing also codifies Exchange interpretations regarding the definition of “research report,” the distribution of third-party research reports through soft dollar arrangements and the requirements regarding the supervisory review and approval of third-party research reports, which were not contained in the joint memoranda. This Information Memo contains additional NYSE interpretations with respect to research analyst participation in pitch meetings and restrictions on sales and marketing activity.
    Date posted: 1/24/2007
  151. NASD Notice to Members 06-65
    Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Executive Summary
    Date posted: 11/20/2006
  152. NYSE Information Memo 06-78
    Continuing Education 2006 Firm Element Advisory
    Date posted: 11/14/2006
  153. 2005 CE Council Continuing Education Firm Element Advisory

    Date posted: 10/10/2005
  154. NYSE Information Memo 04-57
    Continuing Education Firm Element Advisory
    Date posted: 12/30/2004
  155. NYSE Information Memo 2004-57
    NYSE Continuing Education Firm Element Advisory
    Date posted: 11/1/2004
  156. 2004 CE Council Continuing Education Firm Element Advisory

    Date posted: 10/22/2004
  157. NASD Notices to Member 03-57
    Continuing Education
    Date posted: 10/1/2003
  158. NYSE Information Memo 02-50
    Continuing Education - Firm Element Advisory
    Date posted: 11/8/2002
  159. NASD Notice to Members 02-70
    Continuing Education - Firm Element Advisory
    Date posted: 10/17/2002
  160. NYSE Information Memo 01-40
    Continuing Education - Firm Element Advisory
    Date posted: 11/21/2001
  161. NASD Notice to Members 01-72
    Continuing Education - Firm Element Advisory
    Date posted: 10/29/2001

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