1. FINRA Regulatory Notice 19-15 FINRA Publishes Consolidated Criteria to Designate Firms for Mandatory Participation in FINRA’s Business Continuity/Disaster Recovery Testing

    As required by SEC Regulation Systems Compliance and Integrity (Regulation SCI), FINRA in 2015 adopted Rule 4380 requiring member firm participation inbusiness continuity and disaster recovery (BC/DR) testing. The rule authorizes FINRA to designate firms that must participate in FINRA’s annual BC/DR test based on established standards, which FINRA first published in Regulatory Notice 15-43 and updated in Regulatory Notice 18-09. This Notice consolidates FINRA’s designation criteria, as previously announced in Notices 15-43 and 18-09, without change.

    4/19/2019

  2. Cboe Options Regulatory Circular RG14-029 Deletion of Certain Broad-Based Index Reporting Requirements

    A rule change amending Cboe Options Rule 24.4, Position Limits for Broad-Based Index Options, has become effective. As a result of the change, Cboe Options and C2 Options (collectively the “Exchanges”) Trading Permit Holders are no longer required to report certain broad based index option positions to the Exchanges as described in the notice.

    4/16/2019

  3. FINRA Regulatory Notice 19-13 SEC Approves Amendments to FINRA Rule 4512 to Permit the Use of Electronic Signatures for Discretionary Accounts

    The Securities and Exchange Commission (SEC) approved a proposed rule change to amend FINRA Rule 4512 (Customer Account Information) to permit the use of electronic signatures for discretionary accounts and to clarify the scope of the rule. These changes become effective on May 6, 2019.

    4/16/2019

  4. SR-NYSE-2019-16 Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Rule 7.31(i)(4) Relating to the Last Sale Peg Modifier.

    The Exchange proposes to amend Rule 7.31(i)(4) relating to the Last Sale Peg Modifier, also referred to as a “Last Sale Peg Order.” Specifically, the Exchange proposes to specify a circumstance when the working price of a Last Sale Peg Order would not be adjusted.

    4/15/2019

  5. FINRA Regulatory Notice 19-12 FINRA Requests Comment on a Proposed Pilot Program to Study Recommended Changes to Corporate Bond Block Trade Dissemination

    FINRA requests comment on a proposed pilot program to study changes to corporate bond block trade dissemination based on recommendations of the SEC's Fixed Income Market Structure Advisory Committee (FIMSAC or Committee). Specifically, the proposed pilot is designed to study two primary changes recommended by the FIMSAC: an increase to the current dissemination caps for corporate bond trades, and delayed dissemination of any information about trades above the proposed dissemination caps for 48 hours. The proposed pilot incorporates these primary elements of the FIMSAC Recommendation and other features, including a control group, designed to support a meaningful analysis of the pilot’s impact.

    4/12/2019

  6. SR-NASDAQ-2019-028

    The purpose of the proposed rule change is to extend the current pilot program related to Rule 11890, Clearly Erroneous Transactions, to the close of business on October 18, 2019. This change is being proposed in connection with proposed amendments to the Plan to Address Extraordinary Market Volatility (the “Limit Up-Limit Down Plan” or the “Plan”) that would allow the Plan to continue to operate on a permanent basis.

    4/11/2019

  7. SR-NYSE-2019-17 Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Extend the Current Pilot Program Related to Rule 7.10, Clearly Erroneous Executions, and Rule 128, Clearly Erroneous Executions for NYSE Equities

    The purpose of the proposed rule change is to extend the current pilot program related to Rule 7.10, Clearly Erroneous Executions, and Rule 128, Clearly Erroneous Executions for NYSE Equities, to the close of business on October 18, 2019. This change is being proposed in connection with proposed amendments to the Plan to Address Extraordinary Market Volatility (the “Limit Up-Limit Down Plan” or the “Plan”) that would allow the Plan to continue to operate on a permanent basis.

    4/5/2019

  8. FINRA Regulatory Notice 19-10 FINRA Provides Guidance on Customer Communications Related to Departing Registered Representatives

    FINRA has consistently sought to ensure that customers can make a timely and informed choice about where to maintain their assets when their registered representative (i.e., a person registered with the member who has direct contact with customers in the conduct of the member’s securities sales) leaves a member firm. Accordingly, FINRA expects that: 1) in the event of a registered representative’s departure, the member firm should promptly and clearly communicate to affected customers how their accounts will continue to be serviced; and 2) the firm should provide customers with timely and complete answers, if known, when the customer asks questions about a departing registered representative.

    4/5/2019

  9. MSRB Regulatory Notice 2019-10 MSRB Proposes Amendments to Rules Related to Primary Offering Practices

    The MSRB is publishing this notice to announce that, as a result of its retrospective rule review of primary market offering practices in the municipal securities market, the MSRB has filed a proposed rule change with the SEC to amend MSRB Rule G-11, on primary offering practices and MSRB Rule G-32, on disclosures in connection with primary offerings. The MSRB is also proposing to implement changes to MSRB Form G-32 regarding certain data elements provided in electronic format to the Electronic Municipal Market Access Dataport (“EMMA® Dataport”) system in connection with primary offerings.

    3/21/2019

  10. FINRA Regulatory Notice 19-09 FINRA Reminds Firms of Their Obligations Under SEC Rule 15c2-11(a)(4

    In consultation with the staff of the SEC , FINRA is issuing this Notice to remind firms of their obligations under Securities Exchange Act (SEA) Rule 15c2-11 and FINRA Rule 6432 (Compliance with the Information Requirements of Rule 15c2-11) regarding quotations in the securities of foreign private issuers that rely on SEA Rule 12g3-2(b). Specifically, we are reminding firms that Rule 15c2-11(a)(4) requires that they make paragraph (a)(4) information reasonably available upon request to any person expressing an interest in a transaction involving the security, such as by providing the requesting person with appropriate instructions regarding how to obtain the information electronically. Firms cannot comply with this requirement by directing customers to an issuer’s website if, by its terms, the website restricts access by U.S. persons to the paragraph (a)(4) information.

    3/20/2019

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