FINRA released a podcast summary of FINRA news, notices and compliance resources from July 2017. The podcast highlighted:
- Regulatory Notice 17-23, which reminded firms that the delay period applicable to Historic Trade Reporting and Compliance Engine ("TRACE") Data for corporate bonds and agency debt will be reduced from 18 months to six months effective on October 2, 2017;
- Regulatory Notice 17-24, which contained guidance on new confirmation disclosure requirements for transactions with retail customers in corporate debt, agency debt and municipal securities, which will go into effect on May 14, 2018; and
- Regulatory Notice 16-40, which reminded members that FINRA's new so-called "pay to play" and other related rules will take effect August 20, 2017.
In the podcast, FINRA reviewed the release of the 2016 Annual Financial Report, the Disciplinary Review for the second quarter of 2017, and expanded requirements for reporting U.S. Treasury security transactions through TRACE. In addition, FINRA (i) noted the promotion of Susan Schroeder to Executive Vice President and Head of Enforcement, (ii) reminded members of several upcoming educational opportunities, including half-day compliance boot camps that will be offered throughout the remainder of 2017, and (iii) described an update to the Interface of the Public Offering System that will improve features such as navigation, surge, filtering and sorting, and the ability to export filings to Excel and create custom views.
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