FINRA seeks comment on proposal to shield seniors from financial exploitation. FINRA proposed amended and new rules to address the financial exploitation of seniors and other vulnerable adults. The proposal would, among other things, require firms to obtain the contact information for a trusted person for a customer’s account and would allow firms to place temporary holds on customer accounts when financial exploitation of the customer is suspected. Comments are due on or before November 30, 2015. (10/15/2015) FINRA Regulatory Notice 15-37.
NYSE updates trading floor conduct policies. The NYSE published updated policies regarding conduct on all NYSE premises, including the trading floor, which supersedes guidance issued in January 2015. (10/14/2015) NYSE Information Memo 15-5.
FINRA revises proposal requiring pricing disclosure in fixed income securities transactions. FINRA is seeking comment on a revised proposal that would require additional disclosures on customer confirmations for transactions involving corporate and agency debt securities. Comments are due on or before December 11, 2015. (10/12/2015) FINRA Regulatory Notice 15-36.
Trade Reporting Notice is published regarding the dissemination of qualified contingent trades that are reported to FINRA. FINRA has published a Trade Reporting Notice regarding the dissemination of qualified contingent trades (QCT) reported to it. Effective November 16, 2015, the over-the-counter transactions in NMS stocks that are reported to FINRA as QCTs will be identified as such for purposes of public dissemination. This change only affects dissemination. Firms are not required to change the way they report QCTs to FINRA. (10/7/2015) Trade Reporting Notice.