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Financial Industry Regulatory Authority (FINRA) Tax Exemptions

Troutman Pepper

FINRA Report Highlights New Topics and Emerging Risks for 2022

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On February 9, FINRA published its 2022 Report on FINRA’s Examination and Risk Management Program (2022 Report), an authoritative resource for member firms to evaluate and, where necessary, enhance their compliance programs...more

Burr & Forman

FINRA Fines UBS for Muni-Interest Reporting Errors

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The Financial Institutions Regulatory Authority fined a UBS unit $750,000 for mistakenly reporting customers’ municipal-bond-account interest was tax-exempt, when the firm’s handling of the trades made it taxable instead....more

Burr & Forman

FINRA Warns on Muni Shorts & Fails: Substitute Interest is Taxable

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FINRA issued its late-July Regulatory Notice 15-27 warning brokerage firms that inadvertent short positions or fail-to-delivers in municipal securities trading can create situations where the member-firm pays a customer...more

Bracewell LLP

SEC Proposes to Narrow the Rule 15b9-1 Exemption from FINRA Membership

Bracewell LLP on

On March 25, 2015, the Securities and Exchange Commission ("SEC" or "Commission") proposed amendments to rule 15b9-1 of the Securities Exchange Act of 1934, as amended ("Exchange Act"). Rule 15b9-1 currently exempts certain...more

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