View Whole SectionText only Print Print Manager Link
Previous Next

18-42 FINRA Announces Updates of the Interpretations of Financial and Operational Rules

View PDF

SEC Financial Responsibility Rules

Regulatory Notice
Notice Type

Guidance
Referenced Rules & Notices

Regulatory Notice 08-56
Regulatory Notice 13-44
Regulatory Notice 14-06
Regulatory Notice 14-12
Regulatory Notice 14-25
Regulatory Notice 14-38
Regulatory Notice 15-25
Regulatory Notice 18-03
SEA Rule 15c3-1g
SEA Rule 17a-5
Suggested Routing

Compliance
Finance
Legal
Operations
Regulatory Reporting
Senior Management
Key Topics

Books and Records
Financial Reporting
Net Capital

Summary

FINRA is updating the imbedded text of Securities Exchange Act (SEA) financial responsibility and reporting rules in the Interpretations of Financial and Operational Rules to reflect the effectiveness of certain amendments the Securities and Exchange Commission (SEC) adopted.1 The updated imbedded text relates to SEA Rules 15c3-1g and 17a-5.

Questions concerning this Notice should be directed to:

•   Yui Chan, Senior Director, Risk Oversight and Operational Regulation (ROOR), at (646) 315-8426 or Yui.Chan@finra.org;
•   Ann Duguid, Senior Director, ROOR, at (646) 315-7260 or Ann.Duguid@finra.org; or
•   Anthony Vinci, Director, ROOR, at (646) 315-8335 or Anthony.Vinci@finra.org.

Background & Discussion

In August 2018, the SEC adopted amendments to several rules for broker-dealers. FINRA is updating the imbedded SEC rule text in the Interpretations of Financial and Operational Rules to reflect certain amendments to the financial responsibility and reporting rules that became effective on November 5, 2018.2 The updated imbedded text relates to SEA Rules 15c3-1g and 17a-5.

These rule text updates are available in portable digital format (pdf) on FINRA's Interpretations of Financial and Operational Rules [http://www.finra.org/industry/interpretationsfor] page.

Further, SEC staff continues to communicate and issue written and oral interpretations of the financial responsibility and reporting rules. FINRA has previously updated the Interpretations of Financial and Operational Rules on its website in Regulatory Notices 08-56, 13-44, 14-06, 14-12, 14-25, 14-38, 15-25 and 18-03.

FINRA member firms and others that maintain the hardcopy version of the Interpretations of Financial and Operational Rules may refer to the accompanying updated pages, containing the aforementioned rule text updates, which are being made available to enable the replacement of existing pages in the hardcopy version of the Interpretations of Financial and Operational Rules. The filing instructions for the new pages are as follows:

SEA Rule Remove Old Pages Add New Pages
15c3-1g 1611-1614 1611-1615
17a-5 3232-3235 3232-3236

1 See Exchange Act Release No. 83875 (August 17, 2018), 83 FR 50148 (October 4, 2018) (Final Rule: Disclosure Update and Simplification).

2 See note 1.


Previous Next