Regulatory Notice 08-24

Proposed Consolidated FINRA Rules Governing Supervision and Supervisory Controls; Comment Period Expired: June 13, 2008

Executive Summary

As part of the process of developing a new, consolidated rulebook (the Consolidated FINRA Rulebook),1 FINRA is requesting comment on proposals relating to the FINRA supervision and supervisory control rules (the proposed rules). The proposed rules would re-write certain provisions of the existing supervision and supervisory control rules in a manner that provides firms with greater flexibility to tailor their supervisory and supervisory control procedures to reflect their business, size and organizational structure.

The text of the proposed rules is set forth in Attachment A. Questions regarding this Notice should be directed to:

• Patricia Albrecht, Assistant General Counsel, Office of General Counsel (OGC), at (202) 728-8026;
• Brant Brown, Associate General Counsel, OGC, at (202) 728-6927; or
• Kosha Dalal, Associate Vice President and Associate General Counsel, OGC, at (202) 728-6903.

 

1 The current FINRA rulebook consists of two sets of rules: (1) NASD rules and (2) rules incorporated from NYSE (Incorporated NYSE Rules) (together referred to hereinafter as the Transitional Rulebook). The Incorporated NYSE Rules apply only to those members of FINRA that are also members of the NYSE (Dual Members). Dual Members also must comply with NASD rules. For more information about the rulebook consolidation process, see FINRA Information Notice, March 12, 2008 (Rulebook Consolidation Process).

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