WASHINGTON—FINRA announced today the election or appointment of four Governors to its Board of Governors:

• Chris W. Flint, President & Chief Executive Officer, ProEquities, Inc. and Senior Vice President, Distribution Companies for Protective Life Insurance Company, was elected by large firms as a Large Firm Governor, one of three representatives of large firms on the Board.
• FINRA small firms elected Linde Murphy, Chief Compliance Officer, M.E. Allison & Co., Inc., as one of three small firm representatives on the Board of Governors.

The two newly elected Governors join two new public Governors on FINRA’s Board. The two new public Governors, who were nominated by the Nominating Committee and approved by the full Board at its July Meeting in Washington, DC, are:

• Camille Busette, Director of the Race, Prosperity, and Inclusion Initiative and Senior Fellow in Governance Studies at the Brookings Institution; and
• Ethiopis Tafara, Vice President and General Counsel of Legal, Compliance Risk and Sustainability at the International Finance Corporation (part of the World Bank Group).
• Read more here!

Regulatory Notice 19-27

Summary:

FINRA is conducting a retrospective review to assess the effectiveness and efficiency of its rules and administrative processes that help protect senior investors from financial exploitation. The protection of senior investors is a top priority for FINRA. As such, FINRA is interested in whether additional tools, guidance or changes to FINRA rules or administrative processes are appropriate to further address suspected financial exploitation and other circumstances of financial vulnerability for senior investors.

This Notice outlines the general retrospective rule review process, summarizes the rules and administrative processes that most directly apply to financial exploitation of senior investors, and seeks responses to a number of questions related to addressing financial exploitation. Comment Period Expires: October 8, 2019

Questions regarding this Notice should be directed to:

• James S. Wrona, Vice President and Associate General Counsel, Office of General Counsel (OGC), at (202) 728-8270;
• Jeanette Wingler, Associate General Counsel, OGC, at (202) 728-8013;
• Lori Walsh, Deputy Chief Economist, Office of the Chief Economist (OCE), at (202) 728-8323; or
• Dror Y. Kenett, Economist, OCE, at (202) 728-8208.

View Full Notice Here:

to Require Reporting of Transactions in U.S. Dollar-Denominated Foreign Sovereign Debt Securities to TRACE. Comment Period Expires: September 24, 2019.

Regulatory Notice 19-25

Summary:

FINRA requests comment on a proposal to expand TRACE reporting requirements to collect information on trades in foreign sovereign debt securities that are U.S. dollar-denominated. Issuance activity in these debt securities has accelerated in recent years and FINRA believes the proposal would provide important regulatory information on an increasingly active segment of the market. Under the proposal, trades in U.S. dollar-denominated foreign sovereign debt securities would be subject to same-day reporting and would not be disseminated publicly. The proposed rule text is set forth in Attachment A.

Questions regarding this Notice should be directed to:

• Alié Diagne, Director, Transparency Services, at (212) 858-4092 or;
• Joseph Schwetz, Senior Director, Market Regulation, at (240) 386-6170;
• Alex Ellenberg, Associate General Counsel, Office of General Counsel (OGC), at (202) 728-8152; or
• Cara Bain, Assistant General Counsel, OGC, at (202) 728-8852.

View Full Notice Here: