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What falls under the 30 sec time-frame?
FINRA definition of 'immediate' order entry (limit order display/protection)
What falls under the 90 secs time-frame?
Trades must be reported (reporting to the tape)
What falls under the 15min time-frame?
Reporting requirement to TRACE
What falls under the 2 business day time-frame?
- a. Locate before contacting SIC
- b. File form 4 for changes in ownership of control person
What falls under the 3 day time-frame?
Form 211 is filed to become an OTC market maker
What falls under the 10 day time-frame?
- Complaints alleging fraudB/D's must sell-out customersInv. Co. advertising, website sheetsMSRB Rule 37 must file within Quarter end
- Deadline for filing Form 13D
- must provide customer copy of the predispute arbitration agreement when requested
- extension of tender offer if change is made to offer
What falls under the 15 day time-frame?
If a firm fails to pay arbitration rewards within 30 days, FINRA may suspend or revoke the firm's membership after giving 15 days' written notice.
What falls under the 20 day time-frame?
cooling off period and tender offers
What falls under the 21 day time-frame?
Pre-Conference Hearing (COP violation)
What falls under the 25 day time-frame?
- a. Code of Procedure - response to FINRA
- b. Prospectus available to 2ndry mkt buyers (listed/nasdaq)
What falls under the 30 day time-frame?
When payment must be made on a monetary reward due to arbitration.
What falls under the 45 day time-frame?
- a. Response to arbitration
- b. B/D's must buy-in missing securities (qrtly Sec Count)
What falls under the 60 day time-frame?
- a. 10k filed from year end
- b. Hearing Decision
- c. Tape recording must be in place
- d. Adj of Fidelity Bond
- e. Final Sttlmnt of muni syndicate
What falls under the 90 day time-frame?
- a. Final stlmnt of Corp. syndicate
- b. Frozen Account (failure to pay)
- c. SEC trading halt in specific security
- d. Prospectus delivery for new issue (unlisted/non-nasdaq)
- e. Form 144 is good after filing
- f. Deb to equity canno exceed 79% for more than 90 days.
What falls under the 2x monthly time-frame?
Report of Short positions
What falls under the monthly time-frame?
- a. Account statements to custs: penny stocks, activity, free credit balances
- b. Trial Balances - all B/D's
- c. File FOCUS I
What is T+3+2?
Days before B/D takes action for a buy-in or sell-out (initial)
What falls under the quarterly time-frame?
- a. FOCUS I & FOCUS II
- b. Securities Count
- c. 10Q
- d. Report on Tape Recording to FINRA
- e. file Customer Complaints to FINRA
What falls under the 9 month time-frame?
Rule 147 restriction on sales to out of state buyers ends
What must occur annually?
- a. Audit from Independent Accountant for net captial
- b. Compliance and AML training
- c. Inspect OSJ, Supervising Branch, Reps
- d. Review Fidelity Bond
- e. Reg SP - Discloure and Opt Out
What falls under the 1 year time-frame?
- a. Minimum duration for Subordiante Loans
- b. Representation Letters must be on file
- c. Established Customers
- d. Established B/D's
What falls under the 2 year time-frame?
- a. Tape recording
- b. Readily accessible B/D Files
- c. U-5 to re-affliate without examination
- d. MSRB G-37/G-38 ban lifted on particicpating in u/w
What falls under the 3 year time-frame?
- a. Record retention for most B/D Files
- b. Shelf registration for WKSI
- c. Inspection of non-Supervisory Branch
What falls under the 5 year time-frame?
- a. CTRSAR - record retention
- b. U-4 Residency
What falls under the 6 year time-frame?
- a. Documents of orginal entry (blotters, ledgers, journals, customer statements)
- b. Statute of limitations - Code of Arbitration
What falls under the 10 year time-frame?
B/D Corporate records