FINRA proposed to add CAT rules to minor rule violations plan (MRVP) with fines

April 30, 2020Proposed rule change to add Rule 6800 series on CAT compliance rule to MRVP. FINRA’s minor rule violation plan allows FINRA to impose a fine of $2,500 on any member or person associated with a member for a minor violation of an eligible rule.

Proposed Amendments:
Amend Rule 9217 to make minor violations of consolidated audit trail industry member compliance rules in Rule 6800 series eligible for disposition under FINRA MRVP. Plans to employ MRVP for CAT compliance rules the same way for audit trail-related rules. Under Rule 17d-2 plan, regulation of CAT compliance rules of common members is that a FINRA member is allocated to FINRA, the proposed rule allows consider MRVP dispositions.

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