Summary of selected FINRA Regulatory notices July‐September 2010

Abstract

Purpose

The purpose of this summary is to provide excerpts of selected Financial Industry Regulatory Authority (FINRA) Regulatory Notices and Disciplinary Actions issued in July, August, and September 2010.

Design/methodology/approach

The paper provides excerpts from FINRA Regulatory Notices and Disciplinary Actions.

Findings

Regulatory Notice 10‐32: Effective August 2, 2010, the Board composition and governance structure of FINRA Dispute Resolution, Inc. (a subsidiary of FINRA) will more closely parallel the composition and governance structure of the FINRA, Inc. Board of Governors (FINRA Board). 10‐34: The SEC approved amendments to FINRA Rule 8312, which governs the release of information 10‐36: Effective September 7, 2010, amendments to FINRA Rule 2360 (Options) extend the cut‐off time for the submission of certain contrary exercise advices (CEAs) by one hour to 7.30 pm Eastern Time (ET). 10‐42: Effective February 11, 2011, and May 9, 2011, are new FINRA rules that extend certain Regulation NMS protections to quoting and trading of over‐the‐counter (OTC) Equity Securities. 10‐43: On September 10, 2010, the SEC approved amendments to FINRA Rule 6121 (Trading Halts Due to Extraordinary Market Volatility) to expand the trading‐pause pilot, originally adopted on June 10, 2010, to include all stocks in the Russell 1000 Index and specified ETPs.

Originality/value

These are direct excerpts designed to provide a useful digest for the reader and an indication of regulatory trends. The FINRA staff is aware of this summary but has neither reviewed nor edited it. For further detail as well as other useful information, the reader should visit www.finra.org

Citation

Davis, H.A. (2010), "Summary of selected FINRA Regulatory notices July‐September 2010", Journal of Investment Compliance, Vol. 11 No. 4, pp. 59-78. https://doi.org/10.1108/15285811011099009