Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 04 NOVEMBER 2022

Financial Services Weekly RoundUp - October 27, 2022

Goodwin Procter LLP
Explore more from Goodwin Procter LLP

In This Issue. FINRA released a special notice requesting comment on the launch of its machine-readable rulebook initiative; the CFPB issued an advisory opinion addressing "junk" data in credit reports...

United StatesFinance and Banking
Ahmed Abdelhamid
Ahmed Abdelhamid
Josh Burlingham
Josh Burlingham
Nico Ramos
Nico Ramos

In This Issue. The Financial Industry Regulatory Authority (FINRA) released a special notice requesting comment on the launch of its machine-readable rulebook (MRR) initiative; the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion addressing "junk" data in credit reports; and the CFPB issued guidance to banks on unfair "junk" fees. These and other developments are discussed in more detail below.

REGULATORY DEVELOPMENTS

FINRA Requests Comment on Its Machine-Readable Rulebook Initiative

On October 21, FINRA released a special notice requesting comment on the launch of its MRR initiative. The MRR is designed to enhance compliance efforts, reduce costs and aid firms in risk management. The MRR was developed through the creation of an embedded taxonomy that classifies and categorizes a hierarchy of key terms. It was then applied to the 40 most frequently viewed FINRA rules through an Application Programming Interface (API) that will allow users

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

SEC Advances “Responsible Retailization” Through A Potential Accredited Investor Exam And Potential Regulated Fund Reforms

On September 30, 2026, the Securities and Exchange Commission (SEC) issued two rule proposals and five notices aimed at expanding investors’ access to private markets. The package would add ways to qualify as an accredited investor, including passing a new exam administered by the Financial Industry Regulatory Authority (FINRA), broaden performance-based compensation and modernize regulated funds, including interval funds and business development companies (BDCs).
United StatesFinance and Banking
Proskauer Rose LLP
Proskauer Rose LLP
Article

OCC Issues Examiner Framework For Banks’ Use Of Artificial Intelligence

The Office of the Comptroller of the Currency has released a new framework for evaluating banks' deployment of artificial intelligence and agentic AI systems in their business operations. This guidance establishes how examiners will assess AI through existing risk management disciplines rather than creating separate regulatory requirements, with review intensity scaled to each use case's potential consequences and level of human oversight.
United StatesFinance and Banking
Sheppard
Sheppard
Article

23x5 Trading Comes To US Exchanges: What Firms Should Know Before Launch

US national securities exchanges are preparing to launch 23x5 trading by December 6, 2026, marking the most significant expansion of trading hours in decades. This comprehensive analysis examines the regulatory approvals, operational infrastructure changes, investor protection mechanisms, and issuer considerations necessary to support overnight equity trading from Sunday through Thursday evenings.
United StatesFinance and Banking
WilmerHale
WilmerHale
Article

SEC Approves FINRA’s New “Outside Activities” Rule

The Securities and Exchange Commission has approved FINRA Rule 3290, which will replace existing rules governing outside business activities and private securities transactions for registered persons. This new rule narrows the scope to focus on investment-related activities while maintaining similar supervisory obligations for member firms. Understanding the key changes and implementation requirements will be critical for broker-dealers as they update their compliance policies and procedures.
United StatesFinance and Banking
WilmerHale
WilmerHale