On March 12, 2025, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 25-04, seeking public comment on its initiative to modernize regulatory requirements for Members and Associated Persons.
Continue Reading With an Eye Toward Modernization, FINRA Requests Comment on Its Regulatory Requirements for Members and Associated Persons
On Feb. 6, 2024, the U.S. Securities and Exchange Commission (SEC) adopted new Rules 3a5-44 and 3a44-2 (the final rules) under the Securities Exchange Act of 1934 (the Exchange Act), which require market participants engaging in certain dealer roles to register with the SEC, become members of a self-regulatory organization (SRO), and comply with
On May 17, 2023, Prometheum Ember Capital LLC (Prometheum Ember Capital), a subsidiary of Prometheum Inc., received approval from the Financial Industry Regulatory Authority (FINRA) to operate as a special purpose broker-dealer (SPBD) for digital assets. Prometheum Ember Capital is the first SPBD allowed to operate as a broker-dealer
On Jan. 10, 2023, the Financial Regulatory Authority (FINRA) released its 2023 Report on FINRA’s Examination and Risk Monitoring Program (“Report”) in which it identifies the year’s areas of examination focus for FINRA Member Firms (“Firms”). This is the third year for FINRA’s new reporting system, which replaced the prior format for examination focus, the
Last summer, the Financial Regulatory Authority (FINRA) proposed a rule change to its supervision rule (FINRA Rule 3110) to allow member firms to conduct remote inspections of some or all branch offices and locations. This three-year pilot program would allow members to fulfill Rule 3110(c) obligations without on-site inspections.
The Financial Industry Regulatory Authority (FINRA) in November 2022 released a targeted exam letter pertaining to communications for crypto products and services. The relevant period for this exam is July 1, 2022, to Sept. 30, 2022, unless otherwise noted. FINRA defines “crypto asset” as assets “issued or transferred using distributed ledger or blockchain technology.” This
On Sept. 29, 2022, the Financial Industry Regulatory Authority (FINRA) released Regulatory Notice 22-20, alerting members to changes to the Sanctions Guidelines (Guidelines), effective immediately. The notice discusses changes varying from new fine ranges/minimums, additional guidelines, and non-monetary sanctions.