Market making [ Ссылка ]
Time stamps:
00:00 Intro
1:30 Sales supervision
1:40 FINRA can revoke or suspend registration if fees not paid within 21 days
1:50 Materials changes in the B/D made to FINRA promptly but no later than within 30 days
2:07 Statutory disqualifications
2:20 Firm element CE
2:35 Regulatory CE
2:42 Inactive registration for reservists called to active duty
3:37 OSJs and branches that supervises other branches inspected annually
3:52 Other branches every 3 years
4:00 Supervisory control systems and WSPS
4:50 AML test annually
5:00 Attestation by Chief Compliance Officer that have met with and discussed with the Chief Executive Officer compliance issues
5:13 Business continuity plan
5:38 Emergency contact persons reviewed annually
5:45 U-4, U-5, U-6
7:00 Record retention at the OSJ. Vast majority of records are 3 years. Complaints are 4 years
7:00 Recording calls
7:10 Definition of a branch office
8:00 No more than 25 securities transaction to need to be registered as a branch
8:45 Code of conduct
8:51 "Selling away"
9:11 Sharing in customer accounts only with principal approval and proportionate capital
9:30 Borrowing from customers
9:50 Operating from a bank location
10:05 Continuing commissions
11:22 Correspondence 25 or fewer retail within 30 days can be approved by Principal pre or post distribution
11:47 Retail communication more than 25 within 30 days approved pre distribution
12:00 Filed with FINRA 10 days prior to first use if first year firm or derivatives. Filed within 10 days after first use if established firm
12:35 Instant messaging must be archived
12:44 Research reports
13:15 Control relationships
14:10 Research analyst conflicts
15:25 Code of Procedure. Must respond to the Department of Enforcement within 25 days
16:04 Minor Rule Violation $2,500
17:00 Code of Arbitration. Statute of limitation is 6 years
17:41 Customer accounts
17:52 30 days and 36 months
18:03 CIP require picture ID
18:18 OFAC
18:26 Regulation SP
18:45 Margin accounts
19:22 Rehypothecation limited to 140% of the customer debit balance
20:10 $2,000 minimum
20:26 Pattern Day trader $25K
20:50 ACAT. One business day to validate, 3 days to transfer
21:04 Maximum compensation for DPP roll up is 2%
21:18 Holding statements
21:28 Escrow accounts for contingent offerings
22:51 Restricted persons in IPO allocations
23:08 No reciprocal business dealings
23:24 Regulation M
24:20 Stabilization
24:50 Rule 105
25:00 Reg A
25:20 Rule 147
25:40 Rule 145
25:54 Reg S
26:35 Reg D
27:10 Accreditation standards
27:30 Rule 144
29:15 Tender offers
34:20 Issuer buying its own securities
30:55 B/D self-underwritings
31:55 FINRA Corporate Financing Dept
32:50 Insider Trading
33:10 Fairness opinion
33:45 FTC Hart-Scott-Rodino
34:40 NYSE Rule 72
34:50 Market on Close 3:50 PM
35:11 Form 25
35:45 NASDAQ listing
36:03 Entering quotes on Level III
36:19 Excused withdrawal
37:10 VWAP
37:25 Short interest reporting
37:49 CAT
38:00 T-1 New pending. T-2 News released. T-3 enter quotes
38:25 5% Policy
38:52 Rule NMS. Rule 611, 612, 605, and 606
40:03 Limit order protection
41:40 30 seconds to update display
41:54 No front running
41:55 Regulation SHO
43:13 NON-NASDAQ OTC STOCKS FORM 211
43:35 Piggy backing
44:10 Backing away
44:30 TRACE
45:01 CQS
45:20 Penny stock
46:00 Reverse convertible
47:00 QIB 144A
47:20 NASDAQ Order Book
47:49 Locking and crossing markets
48:56 Price/Time default
49:20 TRF, ADF. OTC reporting
49:41 Sell side reports within 10 seconds
50:46 NASDAQ IPO the POP is the first bid
51:45 Stabilization
52:10 Cooling off period
55:10 Fixed and Variable annuities

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