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May 17, 2018 at 02:23 PM
The Financial Industry Regulatory Authority approved publishing for comment at its May 9 board meeting proposed amendments to require that broker-dealers and associated persons produce documents concerning third-party insurance coverage.
The Discovery of Insurance Information in Arbitration proposal to be put out for comment seeks to address broker-dealers’ concerns about “prejudice by limiting the circumstances under which insurance coverage information could be presented to arbitrators.”
The FINRA board also filed with the Securities and Exchange Commission proposed amendments to its Trade Reporting and Compliance Engine (TRACE) rules to expand the definition of Agency Debt Security to address a new issuance structure by government-sponsored enterprises.
Robert Cook, FINRA’s president and CEO, said in a statement released Thursday about the second board meeting of 2018, which was held May 9 and 10 in New York, that the board also previewed a draft of FINRA’s 2017 Annual Financial Report, which is to be published in June.
