Air raid sirens

The U.S. Financial Industry Regulatory Authority Inc. (FINRA) reappointed veteran regulator Maureen Jensen to its board and adopted a series of proposed rules at its latest board meeting.

FINRA announced that Jensen, former chair of the Ontario Securities Commission (OSC), has been tapped to serve another three-year term as a public governor at the U.S. self-regulatory organization. She was first appointed to that role in 2020.

Two other public governors — Deborah Bailey, former managing director at KPMG LLP, and Lisa Fairfax, professor at the University of Pennsylvania School of Law — were also reappointed.

FINRA’s chair, Eric Noll, was re-elected. Noll has served as a public governor since 2020 and was first elected chair in August 2022.

Additionally, the regulator approved a trio of rule proposals that will be submitted to the U.S. Securities and Exchange Commission for approval.

The policy proposals include proposed amendments to increase the frequency and granularity of short-interest reporting by brokerage firms, and a new rule requiring firms to report fail-to-deliver positions to FINRA.

It also approved proposals to reduce the deadline for submitting transactions to the Trade Reporting and Compliance Engine (TRACE) from 15 minutes to one minute, and other rules that expand public reporting by TRACE.

FINRA’s next board meeting in scheduled for September 13-14.