July 30, 2014
On August 25, 2014, firms must enact policies and procedures to address self-trading from algorithms and trading desks, in accordance with new supplementary material to FINRA Rule 5210. In particular, the firm must reasonably design policies and procedures that pertain to a single algorithm or trade desk (or related algorithms…
July 29, 2014
On June 30, 2014, FINRA began publicly releasing Rule 144A corporate debt transaction data through the Trade Reporting and Compliance Engine (TRACE).
July 29, 2014
FINRA has barred former equity trader Kenneth Ronald Allen from associating with any FINRA member for allegedly selling short Japanese stock based on inside information. FINRA alleged that Allen, a former equity trader with First New York Securities LLC, acted on a tip containing material, non-public information received from a corporate insider when he traded Japanese securities in September 2010.
July 21, 2014
At a recent luncheon with securities industry compliance and legal professionals, the National Associate Director of the SEC’s broker-dealer examination program, Kevin Goodman, reportedly provided a “sneak peek” on areas of focus for the SEC’s upcoming examination priorities for the year 2015.
July 11, 2014
On May 21, 2014 FINRA proposed rule changes to the SEC, adopting current NASD Rule 2440 and Interpretive Material 2440-1 and 2440-2 as FINRA Rule 2121.