FINRA: Additional reporting guidance for new rules
Finra provided additional details of the reporting requirements that apply under a new rule that became effective July…
Finra provided additional details of the reporting requirements that apply under a new rule that became effective July 1. The rule requires members to report certain events, and quarterly statistical and summary information, about customer complaints, certain criminal actions, civil complaints and arbitration claims. The notice offers guidance about reporting internal investigation conclusions, which markets are included under the rules, and clarifies phrases, such as “reasonably should have concluded.” The question-and-answer guidance also stipulates that complaints that come from member firm customers in the form of text messages and tweets should be included in the reports. See the regulatory notice here.
Learn more about reprints and licensing for this article.
