The Securities Exchange Act of 1934 ("Exchange Act" or "Act") governs the way in which the nation's securities markets and its brokers and dealers operate. This section contains some of the significant provisions of the Act and its rules. You will find information about whether you need to register as a broker-dealer and how you can register, as well as the standards of conduct and the financial responsibility rules that broker-dealers must follow.

• [+]Electronic Recordkeeping

  • Rule 17a-4(f)
  • Adopting Release for Rule 17a-4(f)
  • 2003 Interpretive Release

• [+]FOIA Information

  • Company Information About Active Broker-Dealers
  • Historical Archive of FOIA Broker-Dealer Company Information Reports

• [+]Foreign Broker-Dealers: Rule 15a-6

  • Rule 15a-6
  • Adopting Release for Rule 15a-6
  • Rule 15a-6 No-Action Letters
  • FAQs on Rule 15a-6 and Regulation Analyst Certification
  • FAQs Regarding Rule 15a-6 and Foreign Broker-Dealers 

• [+]Government Securities/U.S. Treasuries

  • Response Letter from FINRA Regarding Regulation of U.S. Treasury Securities
  • Letter to FINRA Regarding Regulation of U.S. Treasury Securities

• [+]Material Nonpublic Information: Section 15(g) Reports

  • Broker-Dealer Internal Control Procedures for High Yield Securities (October 1993; 14 pages; PDF; 1.3 MB)
  • Broker-Dealer Policies and Procedures Designed to Segment the Flow and Prevent the Misuse of Material Non-Public Information (March 1990; 29 pages; PDF; 6 KB)

• [+]Registered Representatives

  The term "person associated with a broker or dealer" or "associated person of a broker or dealer" means any partner, officer, director, or branch manager of such broker or dealer (or any person occupying a similar status or performing similar functions), any person directly or indirectly controlling, controlled by, or under common control with such broker or dealer, or any employee of such broker or dealer, except that any person associated with a broker or dealer whose functions are solely clerical or ministerial shall not be included in the meaning of such term for purposes of section 15(b) (other than paragraph (6) thereof).

  • Exchange Act definition of "associated person" of a broker-dealer: Section 3(a)(18)
  • FINRA Guide for Registered Representatives
  • Information for Brokers

• [+]Registration

  • Broker-dealer Registration Guide
  • SRO Membership Information

• [+]Regulation M

  • Frequently Asked Questions About Regulation M (Staff Legal Bulletin No. 9)
  • Short Selling in Connection with a Public Offering: Amendments to Rule 105 of Regulation M

• [+]SEC Rules Relating to Privacy and Identity Theft

  • Report Issued on Improving Financial Privacy Notices for Consumers
  • SEC Rules Relating to Privacy and Identity Theft

• [+]Securities Analysts

  • Regulation Analyst Certification
  • Securities Analysts — Selected Releases and Information
  • Responses to Frequently Asked Questions Concerning Regulation Analyst Certification

Anti-Money Laundering

Arbitration

Breakpoints

Broker-Dealer Notices and Reports

Client Commission Practices

Disclosure of Order Execution and Order Routing Information

Issuer Repurchases: Rule 10b-18

Mini-Tender Offers: Broker-Dealer Guidance

Net Capital and Books & Records Guidance

Office of Broker-Dealer Finances

Senior Investors

Short Sales

Supervision

Tips for Broker-Dealers on Avoiding Failures to Deliver Securities