Regulatory Notice 07-36

FINRA Clarifies Guidance Relating to SEC Regulation S-P under Notice to Members 07-06 (Special Considerations When Supervising Recommendations of Newly Associated Registered Representatives to Replace Mutual Funds and Variable Products)

Executive Summary

In February 2007, FINRA (f/k/a NASD) issued NTM 07-06, which describes special considerations firms should use to supervise recommendations of newly hired registered representatives to replace mutual funds and variable products. This Notice clarifies the guidance in NTM 07-06 regarding SEC Regulation S-P.

Questions concerning this Notice should be directed to Patricia Albrecht, Assistant General Counsel, Office of General Counsel, at (202) 728-8026; or Kosha K. Dalal, Associate General Counsel, Office of General Counsel, at (202) 728-6903.