Regulatory Notice 12-25

Additional Guidance on FINRA’s New Suitability Rule 

Implementation Date: July 9, 2012

Executive Summary

In November 2010, the Securities and Exchange Commission (SEC) approved FINRA’s new suitability rule, FINRA Rule 2111. FINRA then issued Regulatory Notice 11-02, which announced the SEC’s approval of the new rule and discussed its requirements. FINRA also issued Regulatory Notice 11-25, which offered further guidance on the rule and announced a new implementation date of July 9, 2012. This Notice provides additional guidance on the rule in response to recent industry questions.

 

Questions regarding this Notice should be directed to James S. Wrona, Vice President and Associate General Counsel, Office of General Counsel, at (202) 728-8270.

 

The answers to questions 6, 7 and 10 have been superseded by the answers provided in Regulatory Notice 12-55.