The Financial Report, 13 October 2016, US Exchanges and Self-Regulatory Organizations

NYSE reminds members of changes to Rule 4530 reporting procedures. The New York Stock Exchange LLC reminded members of their obligations under Rule 4530 to self-report potential misconduct concerning securities, investment and other financial-related matters. In light of recent regulatory changes, NYSE members who are also members of FINRA should continue to file disclosure reports with FINRA, while non-FINRA members should submit reports to NYSE at a designated email address. (10/6/2016) NYSE Information Memo 16-14.

NYSE offers guidance to members and public on submission of tips and complaints. In a new Information Memo, NYSE encouraged NYSE members and the public to submit tips and complaints concerning potential misconduct or trading in a timely manner. NYSE also provided about how to submit information online, by email, or by phone. (10/6/2016) NYSE Information Memo 16-15.

NFA reminds members of requirements for electronic vote for Board and Nominating Committee elections. The National Futures Association notified members of the requirement to designate an Executive Representative to participate in the electronic voting process. The NFA also released the names of the Board and Nominating Committee members whose terms will expire at the Board of Directors’ regular annual meeting on February 16, 2017, and requested members to submit names of persons eligible to fill these vacancies. (10/4/2016)NFA Notice I-16-21.

MSRB announces objectives for fiscal year 2017. The MSRB announced that its operating objectives for fiscal year 2017 will include several rulemaking initiatives related to mark-up disclosures, dealer syndicate practice, and uniform and fair practice rules; the role of education in market regulation; and improvements to its Electronic Municipal Market Access website. (10/3/2016) MSRB press release.

FINRA releases first set of ATS Block Data. FINRA published the first set of alternative trading system Block Data, which reflects information on block-size trades occurring on ATSs during August 2016. (10/3/2016) FINRA press release.

NYSE provides information on handling of certain order types under Tick Size Pilot. NYSE offered guidance to NYSE members regarding the handling of certain order types, including G-quotes, Buy Minus/Zero Plus, and discretionary e-quotes, under the new Tick Size Pilot Program, which launched on October 3, 2016. (9/30/2016) NYSE Information Memo 16-13.

FINRA Board of Governors announces rulemaking items for discussion at September meeting. FINRA announced that its Board of Governors will consider proposed amendments to FINRA’s rules governing advertising to permit the use of projections of the performance of asset allocation, proposed revisions to the non-public arbitrator definition, and proposed rule amendments that would expedite sending arbitrator selection lists to parties at its September 2016 meeting. (9/22/2016) FINRA press release.

MSRB proposes continuing education requirements for municipal advisors.The MSRB requested comments on proposed rule amendments that would establish continuing education requirements for municipal advisors. Comments are due on or before November 14, 2016. MSRB press release.

MSRB asks for additional comments on minimum denomination proposal. The MSRB made a second request for comments on a draft proposal that would provide several exceptions to its minimum denomination regulations, which prohibit dealers from buying or selling bonds below the minimum denomination allowed in a bond offering document. Comments are due on or before October 18, 2016. (9/27/2016) MSRB press release.

NFA notifies members of amendments to CPO Form PQR. The NFA reminded members that, effective for the quarter ending September 30, 2016, they may now enter separately the date of each participant disclosure regarding redemption halts, material limitations on redemptions, and the lifting of halts or limitations on CPO Form PQR. (9/27/2016) NFA Notice I-16-20.

FINRA announces effective date for new procedures regarding award offsets in FINRA arbitration proceedings. FINRA notified members of recently-approved amendments to its arbitration rules, which provide that when arbitrators order opposing parties to make payments to one another, the monetary awards shall offset and the party assessed the larger amount shall pay the net difference, unless otherwise specified in the award. The amendments will become effective on October 24, 2016. (9/26/2016) FINRA Regulatory Notice 16-36.

MSRB Makes Improvements to Bank Loan Disclosures on EMMA Website. The MSRB announced improvements to the process for submitting bank loan disclosures and to the display of these disclosures on its EMMA website. The MSRB will host an educational webinar on the changes to the submission process for bank loan disclosures on October 13, 2016.

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