The New BD Self-Reporting Rule: How to Decide When to Report
10:50 AM – 12:00 PM
Friday, May 18
From supplementary material to Rule 4530:
FINRA new self-reporting rule, 4350, expects a member to report only conduct that has widespread or potential widespread impact to the member, its customers or the markets, or conduct that arises from a material failure of the member's systems, policies or practices involving numerous customers, multiple errors or significant dollar amounts.
What needs to be reported? What can be addressed internally without being reported to FINRA? How will self-reporting impact the firm? How is “potential widespread impact” defined? Self-reporting will have to be, in many instances, be a judgment call. What documentation is required when self-reporting has been determined not to be necessary? This panel will offer some guidance as to how to make the most appropriate judgment determinations.
Back to the Agenda