MSRB makes available information about upcoming municipal securities offerings on EMMA. The Municipal Securities Rulemaking Board announced that it has added a new issue calendar to its Electronic Municipal Market Access website that lists municipal bonds scheduled for sale to investors as well as pricing of recently sold issues. (1/9/2017) MSRB press release.
MSRB solicits applications for its Board of Directors. The MSRB announced that it is seeking applicants for three public and two regulated-entity positions on its Board of Directors, one of which is a non-dealer municipal advisor. Applications are due on or before February 17, 2017. (1/9/2017) MSRB press release.
New requirements for FDMs to provide customers with transaction execution data coming in March. The National Futures Association informed members about amendments to NFA Compliance Rule 2-36 effective on March 31, 2017, which will require forex dealer members to provide customers with certain transaction execution data upon request, to notify customers of their ability to request this transaction information, and to report customer requests and their response to the NFA. (1/5/2017) NFA Notice I-17-01.
FINRA announces 2017 exam priorities. In its Annual Regulatory and Examination Priorities Letter, FINRA announced the key areas it plans to review in its 2017 exams, which include high-risk and recidivist brokers; protecting senior investors; financial risks, including liquidity and risk management; operational risks, including cybersecurity and supervisory controls; and market integrity, including manipulation and best execution. (1/4/2017) FINRA Annual Regulatory and Examination Priorities Letter.
FINRA advises member of changes to arbitration procedures. FINRA announced the effective dates of several amendments to its Codes of Arbitration Procedures in three separate Regulatory Notices. The amendments broadening chairperson eligibility in arbitration will apply as of January 9, 2017. The amendments that add additional grounds for arbitrators to act on motions to dismiss prior to the conclusion of the claimant’s case in chief will apply to motions to dismiss filed on or after January 23, 2017. The amendments that require most parties to use the FINRA Office of Dispute Resolution’s Party Portal to file initial statements of claim and to file and serve most documents on FINRA or any other party will become effective for all cases filed on or after April 3, 2017. (1/3/2017)
NFA Annual Meeting of Members. The NFA will hold its Annual Meeting of Members on February 7, 2017. The meeting agenda includes the election of an individual to the NFA Board of Directors from the top 5% of commodity pool operators or commodity trading advisors reporting any funds under management allocated to futures and swaps. (12/29/2016) NFA press release.
Revised guide on Forex transactions. The NFA revised its regulatory guide for Forex transactions to include technical amendments to NFA Bylaw 1507 Definitions and NFA Requirements to conform to the definitions in Section 1a of the Commodity Exchange Act, and to add references to recent Notices to Members regarding minimum security deposits requirements. (12/23/2016) Forex Transactions: A Regulatory Guide.
NFA explains new requirements for CPOs and CTAs to report financial information. The NFA advised members that new reporting requirements under NFA Compliance Rule 2-46, which will require CPOs and CTAs to report two financial ratios regarding a CPO’s or CTA’s financial condition on the quarterly Forms PQR and PR, will be effective for Forms PQR and PR as of the quarter ending June 30, 2017. (12/19/2016) NFA Notice I-16-31.
NYSE advises firms of surveillance obligations. NYSE advised members that they are required to use available tools, including FINRA’s Cross-Market Equities Supervision—Potential Manipulation Reports, to monitor and address trading or quoting activity that improperly disrupts the trading of securities or risk disciplinary action or suspension. (12/15/016) NYSE Information Memo 16-18.
FINRA issues schedule for 2017 holiday trade date, settlement date, and margin extensions. FINRA published a schedule of trade date, settlement date, and margin extensions for 2017 holidays to help brokers, dealers, and municipal securities dealers in requesting extensions of time for “regular way” transactions effected on dates prior to and after a holiday when the exchanges are closed. (12/14/2016) FINRA Information Notice.
NYSE advises members of changes to certain Electronic Blue Sheet data elements. NYSE announced that it and other US Intermarket Surveillance Group Members have modified certain equity and option data elements for Electronic Blue Sheets, which became effective on December 30, 2016. (12/8/2016) NYSE Information Memo 16-17.