Regulatory Notice 08-56

FINRA Announces the Publication of Consolidated Interpretations of SEC Rules Governing Financial Responsibility, Customer Protection and Books and Records

Executive Summary

The purpose of this Notice is to advise FINRA member firms that FINRA has published a consolidated set of interpretations issued by SEC staff with respect to the following rules: SEA Rules 15c3-1, 15c3-2, 15c3-3, 15c3-4, 17a-3, 17a-4, 17a-5, 17a-11 and 17a-13. Historically, written and verbal SEC staff interpretations of these rules were published by the NYSE and/or NASD. Firms subject to these SEC rules were required to refer to both sets of interpretations and determine their applicability. Upon the consolidation of NASD and NYSE Regulation, FINRA staff reconciled the interpretations to create a single resource, now available on FINRA's Web site at www.finra.org/finops. Information about the interpretations is contained within this Notice.

 

Questions concerning this Notice should be directed to:

 

  • Yui Chan, Managing Director, Risk Oversight and Operational Regulation, at (646) 315-8426; or
  • Susan DeMando, Associate Vice President, Shared Services, at (202) 728-8411.