Regulation
Regulatory Notice 09-22
FINRA Requests Comment on Proposed Consolidated FINRA Rule Governing Personal Securities Transactions for or by Associated Persons; Comment Period Expired: June 5, 2009
Executive Summary
As part of the process to develop a new consolidated rulebook (the Consolidated FINRA Rulebook), FINRA is requesting comment on proposed new FINRA Rule 3210 (Personal Securities Transactions for or by Associated Persons). The proposed rule, which combines and streamlines certain provisions of NASD Rule 3050 and Incorporated NYSE Rule 407 in addition to adopting additional requirements, would promote more effective oversight of the personal trading activities of associated persons of member firms.
This Notice also requests comment on how firms currently obtain information pursuant to NASD Rule 3050 or NYSE Rule 407, as applicable, and the processes and controls currently implemented upon receipt of such information.
The text of the proposed rule is set forth in Attachment A.
Questions regarding this Notice should be directed to Adam H. Arkel, Assistant General Counsel, Office of General Counsel, at (202) 728-6961.
| View Full Notice | PDF 102 KB |
The views, expressions, findings and opinions expressed in the comments on this Web page are solely those of the author(s) and FINRA accepts no responsibility for the content of the comments.
| Comments By | Date Received |
|---|---|
| Markus Witthaut (PDF 14 KB) | 4/23/2009 |
| Sykes Financial Services LLC (PDF 15 KB) | 4/23/2009 |
| IBSI (PDF 24 KB) | 4/27/2009 |
| NPB Financial Group, LLC (PDF 44 KB) | 4/30/2009 |
| Michele R. Huneycutt (PDF 48 KB) | 5/6/2009 |
| Pagemill Partners (PDF 44 KB) | 5/27/2009 |
| Channel Capital Group LLC (PDF 59 KB) | 5/27/2009 |
| Karen Z. Fischer (PDF 15 KB) | 5/28/2009 |
| J.A. Glynn & Co. (PDF 26 KB) | 5/28/2009 |
| Bob Hillard (PDF 15 KB) | 5/28/2009 |
| Quasar (PDF 50 KB) | 5/29/2009 |
| National Planning Holdings, Inc. (PDF 40 KB) | 5/29/2009 |
| MWA Financial Services, Inc. (PDF 33 KB) | 6/3/2009 |
| Wells Fargo Advisors, LLC (PDF 57 KB) | 6/4/2009 |
| H & L Equities, LLC (PDF 13 KB) | 6/4/2009 |
| People's Securities (PDF 20 KB) | 6/4/2009 |
| Investment Company Institute (PDF 92 KB) | 6/4/2009 |
| State Farm VP Management Corp. (PDF 128 KB) | 6/4/2009 |
| Farmers Financial Solutions, LLC (PDF 17 KB) | 6/5/2009 |
| Charles Schwab & Co., Inc. (PDF 575 KB) | 6/5/2009 |
| Pacific Select Distributors, Inc. (PDF 73 KB) | 6/5/2009 |
| Sutherland Asbill & Brennan LLP (PDF 77 KB) | 6/5/2009 |
| ACLI (PDF 77 KB) | 6/5/2009 |
| Taurus Compliance Consulting, LLC (PDF 2,195 KB) | 6/5/2009 |
| Northwestern Mutual Investment Services, LLC (PDF 679 KB) | 6/5/2009 |
| UBS Securities LLC (PDF 52 KB) | 6/5/2009 |
| PFS Investments Inc. (PDF 92 KB) | 6/5/2009 |
| Financial Services Institute (PDF 77 KB) | 6/5/2009 |
| SunTrust Investment Services, Inc. (PDF 130 KB) | 6/5/2009 |
| GWFS Equities, Inc. (PDF 27 KB) | 6/5/2009 |
| NAIBD (PDF 58 KB) | 6/5/2009 |
| SIFMA (PDF 71 KB) | 6/8/2009 |
| NSCP (PDF 97 KB) | 6/8/2009 |