900. Code of Procedure
Except for the FINRA Rule 9700 Series, all capital acquisition broker members shall be subject to the FINRA Rule 9000 Series, unless the context requires otherwise, provided, however, that:
(a) the term "associated person" as used in the FINRA Rule 9000 Series shall mean "associated person of a capital acquisition broker" or "person associated with a capital acquisition broker" as defined pursuant to Capital Acquisition Broker Rule 016(a);
(b) the terms "rules" and "FINRA rules" as used in the FINRA Rule 9000 Series shall include the Capital Acquisition Broker Rules;
(c) any capital acquisition broker (and its associated persons) may be subject to a fine under FINRA Rule 9216(b) with respect to any rule or By-Laws listed in this Rule.
• Article IV of the FINRA By-Laws — Failure to timely submit amendments to Form BD.
• Article V of the FINRA By-Laws — Failure to timely submit amendments to Form U4.
• Article V of the FINRA By-Laws — Failure to timely submit amendments to Form U5.
• Capital Acquisition Broker Rule 125 — Failure to comply with the continuing education requirements.
• Capital Acquisition Broker Rule 221 — Communications with the public.
• Capital Acquisition Broker Rule 311 — Failure to maintain adequate written supervisory procedures where the underlying conduct is subject to Capital Acquisition Broker Rule 900(c).
• Capital Acquisition Broker Rule 451 — Failure to keep and preserve books, accounts, records, memoranda, and correspondence in conformance with all applicable laws, rules, regulations and statements of policy promulgated thereunder, and with FINRA rules.
• Capital Acquisition Broker Rule 452 — Failure to comply with the requirements for general ledger accounts.
• Capital Acquisition Broker Rule 453 — Failure to timely file reports.
• Capital Acquisition Broker Rule 454 — Failure to report, review and update executive representative designation and contact information.
• Capital Acquisition Broker Rule 512 — Failure to timely file private placement documents.
• SEA Rules 17a-3(a) and 17a-4 — Record retention rule violations.
• SEA Rule 17a-5 — Failure to timely file FOCUS reports and annual audit reports.
• SEA Rule 17a-10 — Failure to timely file Schedule I.
(d) for purposes of FINRA Rule 9551(a), FINRA staff may issue a written notice requiring a capital acquisition broker to file communications with the FINRA Advertising Regulation Department at least ten days prior to use if FINRA staff determines that the member has departed from the standards of Capital Acquisition Broker Rule 221; and
(e) for purposes of FINRA Rule 9551(d), the pre-use filing requirement referenced in a notice issued and served under FINRA Rule 9551 shall become effective 21 days after service of the notice, unless stayed by a request for a hearing pursuant to FINRA Rule 9559.
| Adopted by SR-FINRA-2015-054 eff. April 14, 2017. Selected Notice: 16-37. |