Comments on an MSRB proposal to amend its suitability rules to align Regulation Best Interest standards for bank municipal securities dealers are due by May 31, 2022.
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In response to a request for comment on FINRA Regulatory Notice 22-08, several industry organizations and a cohort of attorneys general submitted letters examining the merit of FINRA's proposal to further restrict retail investors' access to "complex products."
A broker-dealer settled parallel charges brought by NYSE Arca, Inc. and Nasdaq Stock Market, LLC for failing to institute financial risk management controls when providing market access to affiliated organizations. A parallel settlement with FINRA for the same violations was previously made public.
SIFMA requested that the SEC grant immediate remedial relief for a proposed FINRA rule on the grounds that FINRA misstated the requirements for expungement.
At a hearing before the Senate Committee on Banking, Housing and Urban Affairs, Treasury Secretary Janet L. Yellen testified on the Financial Stability Oversight Council's 2021 Annual Report to Congress.