Report from FINRA Board of Governors Meeting: Board Approves Rule Proposals, Engages with Boca Raton-Area Firms
The Board of Governors of the Financial Industry Regulatory Authority (FINRA) met on February 28 and March 1 in Boca Raton, Florida, where it discussed the organization’s finances, reviewed several significant technology and other capital initiatives, and considered certain rulemaking items.
The Board received updates on FINRA’s regulatory operations, including the continuing transformation of its Risk Monitoring and Examination Program and its recent 529 Plan Share Class Initiative, and approved the following items:
moving forward with proposing new rules related to firms that have a disproportionately high number of regulatory disclosure events by the firm and/or its registered representatives; and
filing proposed amendments to the Trade Reporting and Compliance Engine (TRACE) Rules with the Securities and Exchange Commission to enhance collection and dissemination of new issue reference data for corporate bonds and charge associated fees.