Guidance
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Upcoming Deadlines and Effective Dates
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Education and Compliance Programs
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U.S. Treasury Offers Free Workshop on Auction Rules
The U.S. Department of the Treasury is offering a free, virtual workshop on Treasury's auction rules, Friday, Oct. 20, 1-2 p.m. ET. The workshop will provide an overview of the auction rules, including examples of auction-related calculations. The workshop is for market professionals who are new to, or would like to refresh their knowledge of, the auction process and whose firms participate in Treasury auctions, including areas such as legal, regulatory compliance, trading, operations, risk management and support. The workshop will be conducted via a Microsoft Teams live event. A confirmation email will be sent to each registered participant with a link to the virtual workshop. If you are unable to attend, a recording of the presentation will remain available at the link provided in the confirmation email for 180 days. There is no cost for the workshop, but registration is required by completing the online registration form by the close of business on Wednesday, Oct. 18. This workshop is closed to the media.
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Guidance
As a reminder, FINRA and the CE Council have published the 2024 Regulatory Element topics on FINRA’s website. Annual CE Learning plans can be viewed by selecting the desired registration category, or group of registrations, and the year. Topics are published, in part, to help firms coordinate their overall training programs with the Regulatory Element. Each firm should determine the best way to incorporate this information into their training program based on their business activities and training needs. FINRA reminds firms that registered persons are required to complete the Regulatory Element annually by Dec. 31 for each registration they hold.
FINRA published recently the Update on Sweep: Special Purpose Acquisition Companies (SPACs)—a follow-up to the October 2021 targeted exam (sweep) of firms’ offering of, and services provided to, Special Purpose Acquisition Companies (SPACs) and their affiliates (e.g., sponsors, principal stockholders, board members, and related parties). The interim update poses several questions for firms to consider as they evaluate whether their supervisory systems are reasonably designed to address risks of their SPAC-related activities. In addition, the update shares additional guidance FINRA has provided regarding member firms’ obligations.
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Upcoming Deadlines and Effective Dates
SEC Request for Comment
On Sept. 28, 2023, the SEC issued an order instituting proceedings to determine whether to approve or disapprove FINRA’s proposed rule change to amend FINRA Rule 4210 (Margin Requirements) to provide margin relief for specified index option transactions, known as “protected options,” and to make other minor conforming revisions with regard to the margin relief. Comments are due by Oct. 25, 2023. Rebuttal comments are due by Nov. 8, 2023. See the SEC Notice of Order.
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Education and Compliance Programs
Join FINRA in Columbus, OH, next week for registration and disclosure training. A few additional seats just opened up for both in-person classes, which are designed for compliance personnel at member firms:
- Registration Systems Foundation Training is a one-day training for firm compliance personnel who want to become more familiar with navigating FINRA Gateway and submitting Uniform Forms.
- The Disclosure Reporting Boot Camp includes two days of comprehensive training on disclosure reporting topics, including determining reportability and responding to FINRA disclosure letters.
FINRA’s Small Firm Conference is in two weeks. Don’t miss this exclusive event that focuses on small firms’ practices and tips for complying with FINRA rules. Throughout the event, attendees have the opportunity to network with FINRA senior staff and peers from the small firm community.
Join us in New York or online on February 6 for the 2024 Cybersecurity Conference, designed to help you stay current on today’s cybersecurity challenges and the ways in which organizations can understand threats and create resilience against cyber-attacks. Register today!
Register now and save! Join us at FINRA’s premier event, the 2024 Annual Conference, to connect and network with industry peers, engage in informal conversations with FINRA senior leaders and exchange diverse perspectives on the timeliest compliance and regulatory topics.
Register for all of FINRA’s upcoming events:
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