Regulation
Comments on FINRA Regulatory Notices
Below is a listing of Regulatory Notices (formerly known as Notices to Members) that have requested comments.
| 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 |
2013 |
| 13-07 FINRA Requests Comment on Proposed FINRA Rules Governing Markups, Commissions and Fees Comment Period Expired: April 1, 2013 Posted on: 1/31/2013 |
| 13-05 FINRA Requests Comment on a Proposed Supplemental Schedule for Inventory Positions Comment Period Expired: February 25, 2013 Posted on: 1/24/2013 |
| 13-02 FINRA Requests Comment on a Proposed Rule to Require Disclosure of Conflicts of Interest Relating to Recruitment Compensation Practices Comment Period Expired: March 5, 2013 Posted on: 1/4/2013 |
2012 |
| 12-42 FINRA Requests Comment on a Revised Proposal to Identify and Manage Conflicts Involving the Preparation and Distribution of Debt Research Reports Due to the disruption of normal business operations relating to Hurricane Sandy, FINRA is extending the deadline to provide comment to December 20, 2012. Original deadline: December 10, 2012. Comment Period Expired: December 20, 2012 Posted on: 10/11/2012 |
| 12-39 FINRA Requests Comment on TRACE Dissemination Issues Due to the disruption of normal business operations relating to Hurricane Sandy, FINRA is extending the deadline to provide comment to November 19, 2012. (Previously, the deadline was extended to November 9, 2012.) Comment Period Expired: October 10, 2012 Posted on: 9/5/2012 |
| 12-34 FINRA Requests Comment on Proposed Regulation of Crowdfunding Activities Comment Period Expired: August 31, 2012 Posted on: 7/5/2012 |
| 12-27 FINRA Requests Comment on Proposed Amendments to FINRA Rule 5110 Regarding Deferred Compensation Arrangements in Public Offerings Comment Period Expired: July 23, 2012 Posted on: 6/6/2012 |
| 12-23 FINRA Requests Comment on Proposed Supplementary Schedule for Derivatives and Other Off-Balance Sheet Items Comment Period Expired: June 4, 2012 Posted on: 5/4/2012 |
| 12-18 FINRA Requests Comment on Proposed New In re Expungement Procedures for Persons Not Named in a Customer-Initiated Arbitration Comment Period Expired: May 21, 2012 Posted on: 4/5/2012 |
| 12-14 FINRA Requests Comment on Proposed Amendments to NASD Rule 2340 to Address Values of Unlisted Direct Participation Programs and Real Estate Investment Trusts Comment Period Expired: April 11, 2012 Posted on: 3/7/2012 |
| 12-10 FINRA Requests Comment on Ways to Facilitate and Increase Investor Use of BrokerCheck Information Comment Period Expired: April 27, 2012 Posted on: 2/21/2012 |
| 12-09 FINRA Requests Comment on a Proposal to Identify and Manage Conflicts Involving the Preparation and Distribution of Debt Research Reports Comment Period Expired: April 2, 2012 Posted on: 2/17/2012 |
| 12-07 FINRA Requests Comment on Proposed Amendments Relating to Reporting of OTC Trades Executed in a Mixed Capacity Comment Period Expired: March 26, 2012 Posted on: 2/8/2012 |
2011 |
| 11-48 FINRA Requests Comment on a Proposed New Rule Requiring Carrying/Clearing Member Firms to Maintain and Keep Current Certain Records in a Central Location Comment Period Expired: December 9, 2011 Posted on: 10/21/2011 |
| 11-44 FINRA Requests Comment on Proposed Amendments to NASD Rule 2340 to Address Values of Unlisted Direct Participation Programs and Real Estate Investment Trusts in Customer Account Statements Comment Period Expired: November 12, 2011 Posted on: 9/29/2011 |
| 11-43 FINRA Requests Comment on Proposed Amendments to Rule 5210 Regarding Publication of Indications of Interest Comment Period Expired: October 21, 2011 Posted on: 9/20/2011 |
| 11-28 FINRA Requests Comment on Amendments to Schedule A of the FINRA By-Laws to Implement an Accounting Support Fee to Fund the Governmental Accounting Standards Board Comment Period Expired: August 1, 2011 Posted on: 6/16/2011 |
| 11-14 FINRA Requests Comment on Proposed New FINRA Rule 3190 to Clarify the Scope of a Firm’s Obligations and Supervisory Responsibilities for Functions or Activities Outsourced to a Third-Party Service Provider Comment Period Expired: May 13, 2011 Posted on: 3/29/2011 |
| 11-11 FINRA Requests Comment on Concept Proposal to Identify and Manage Conflicts Involving the Preparation and Distribution of Debt Research Reports Comment Period Expired: April 25, 2011 Posted on: 3/11/2011 |
| 11-08 FINRA Requests Comment on Proposed Consolidated FINRA Rules Governing Markups, Commissions and Fees Comment Period Expired: March 28, 2011 Posted on: 4/5/2011 |
| 11-04 FINRA Requests Comment on Proposed Amendments to FINRA Rule 5122 to Address Member Firm Participation in Private Placements Comment Period Expired: March 14, 2011 Posted on: 3/16/2011 |
2010 |
| 10-54 FINRA Requests Comment on Concept Proposal to Require a Disclosure Statement for Retail Investors at or Before Commencing a Business Relationship Comment Period Expired: December 27, 2010 Posted on: 10/27/2010 |
| 10-33 FINRA Requests Comment on Proposed Rule Requiring the Filing of Supplemental FOCUS Information and Proposed Supplementary Schedule to the Statement of Income (Loss) Page of FOCUS Report Parts II and IIA Comment Period Expired: August 18, 2010 Posted on: 7/19/2010 |
| 10-25 FINRA Requests Comment on Proposed Registration Category, Qualification Examination and Continuing Education Requirements for Operations Professionals Comment Period was extended to July 30, 2010 Posted on: 5/26/2010 |
| 10-03 FINRA Requests Comments on Proposed Consolidated FINRA Rules Governing Securities Loans and Borrowings, Permissible Use of Customers' Securities and Callable Securities Comment Period Expired: March 8, 2010 Posted on: 1/5/2010 |
| 10-01 Proposed Consolidated FINRA Rules Governing FINRA’s Membership Application Proceedings The comment period was extended to March 5, 2010. Posted on: 1/4/2010 |
2009 |
| 09-70 FINRA Requests Comment on Proposed Consolidated FINRA Rules Governing Registration and Qualification Requirements The comment period was extended to March 1, 2010. Comment Period Expired: February 1, 2010 Posted on: 12/3/2009 |
| 09-69 FINRA Requests Comment on Proposed Consolidated FINRA Rule Governing Payments to Unregistered Persons Comment Period Expired: February 1, 2010 Posted on: 12/2/2009 |
| 09-63 FINRA Requests Comment on Proposed Consolidated FINRA Rule Governing Discretionary Accounts and Transactions Comment Period Expired: December 28, 2009 Posted on: 11/12/2009 |
| 09-55 FINRA Requests Comments on Proposed New Rules Governing Communications with the Public Comment Period Expired: November 20, 2009 Posted on: 9/21/09 |
| 09-45 FINRA Requests Comment on Proposed Consolidated FINRA Rule Governing Sale of Securities in a Fixed Price Offering Comment Period Expired: September 18, 2009 Posted on: 8/4/09 |
| 09-44 FINRA Requests Comment on Proposed Consolidated FINRA Rule Governing Fidelity Bonds Comment Period Expired: September 14, 2009 Posted on: 7/31/09 |
| 09-34 FINRA Requests Comment on Proposed Consolidated FINRA Rule Governing Investment Company Securities Comment Period Expired: August 3, 2009 Posted on: 6/17/09 |
| 09-29 FINRA Requests Comment on Proposed FINRA Rule Addressing the Origination and Circulation of Rumors Comment Period Expired: July 16, 2009 Posted on: 6/1/09 |
| 09-25 Proposed Consolidated FINRA Rules Governing Suitability and Know-Your-Customer Obligations Comment Period Expired: June 29, 2009 Posted on: 5/15/09 |
| 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 Posted on: 4/21/09 |
| 09-15 FINRA Requests Comment on Proposed Consolidated FINRA Rules Governing Limit and Market Order Protection Comment Period Expired: April 24, 2009 Posted on: 3/12/09 |
| 09-06 FINRA Requests Comment on Proposed Rule to Establish a Leverage Limitation for Retail Forex Comment Period Expired: February 20, 2009 Posted on: 1/21/09 |
| 09-03 FINRA Requests Comment on Proposed Consolidated FINRA Rules Governing Financial Responsibility and Operational Requirements Comment Period Expired: February 20, 2009 Posted on: 1/6/09 |
| 09-02 FINRA Requests Comment on Proposed Consolidated FINRA Rule Governing Information and Data Reporting and Filing Requirements Comment Period Expired: February 20, 2009 Posted on: 1/6/09 |
2008 |
| 08-83 FINRA Requests Comment on Proposed FINRA Rule Regarding Front Running of Block Transactions The comment period was extended to February 27, 2009. Comment Period Expired: February 6, 2009 Posted on: 12/24/08 |
| 08-80 FINRA Requests Comment on Proposed FINRA Rule Addressing Best Execution The comment period was extended to February 27, 2009. Comment Period Expired: January 29, 2009 Posted on: 12/16/08 |
| 08-71 FINRA Requests Comment on Proposed Consolidated FINRA Rule Governing Reporting Requirements The comment period was extended to January 16, 2009. Comment Period Expired: December 29, 2008 Posted on: 11/28/08 |
| 08-68 FINRA Requests Comment on Proposed FINRA Rule Addressing the Circulation of Rumors Comment Period Expired: December 18, 2008 Posted on: 11/18/08 |
| 08-55 FINRA Requests Comment on Proposed Research Registration and Conflict of Interest Rules Comment Period Expired: November 14, 2008 Posted on: 10/14/08 |
| 08-39 FINRA Requests Comments on Proposed New Rules Governing Communications About Variable Insurance Products Comment Period Expired: September 30, 2008 Posted on: 7/28/08 |
| 08-26 Proposed Consolidated FINRA Rule Addressing Investor Education and Protection; Comment Period Expired: June 13, 2008 Posted on: 5/14/08 |
| 08-25 Proposed Consolidated FINRA Rules Governing Books and Records Requirements; Comment Period Expired: June 13, 2008 Posted on: 5/14/08 |
| 08-24 Proposed Consolidated FINRA Rules Governing Supervision and Supervisory Controls; Comment Period Expired: June 13, 2008 Posted on: 5/14/08 |
| 08-23 Proposed Consolidated FINRA Rules Governing Financial Responsibility; Comment Period Expired: June 13, 2008 Posted on: 5/14/08 |
| 08-20 FINRA Requests Comments on Proposed Changes to Forms U4 and U5; Comment Period Expired: May 27, 2008 Posted on: 4/24/08 |
2007 |
| 07-58 FINRA Solicits Comments on Proposed Guidance Regarding International Prime Brokerage Practices; Comment Period Expired: January 10, 2008 Posted on: 11/26/07 |
| 07-46 FINRA Requests Comment on Proposed Amendments to OTC Trade Reporting Requirements for Equity Securities; Comment Period Expired November 12, 2007 Posted on: 9/28/07 |
| 07-30 NASD and NYSE Request Comment on Proposed Joint Guidance Regarding the Review and Supervision of Electronic Communications; Comment Period Expired July 13, 2007 Posted on: 6/14/07 |
| 07-27 NASD Requests Comment on Proposed Rule 2721 to Regulate Member Private Securities Offerings; Comment Period Expired July 20, 2007 Posted on: 6/5/07 |
| 07-12 NASD Requests Comment on Proposed Amendments to Rules 3010(g) and 2711 in Connection with the Rule Harmonization Project with the NYSE; The comment period was extended to April 9, 2007. Comment Period Expired March 26, 2007 Posted on: 2/22/07 |
2006 |
| 06-32 NASD Requests Comment on Providing Public Access to Historic TRACE Data Not Previously Disseminated or Otherwise Publicly Available; The comment period was extended to August 15, 2006. Comment Period Expired July 31, 2006 Posted on: 6/28/06 |
| 06-31 NASD Requests Comment on Regulatory Relief that Should Be Granted in Response to a Possible Pandemic or Other Major Business Disruption; The comment period was extended to September 15, 2006. Comment Period Expired July 31, 2006 Posted on: 6/28/06 |
| 06-22 NASD Requests Comment on Publicly Disseminating in TRACE Information Whether a Transaction was an Inter-Dealer or a Dealer-Customer Transaction and, in Dealer-Customer Transactions, Whether the Broker-Dealer was a Buyer or Seller; Comment Period Expired June 15, 2006 Posted on: 5/10/06 |
| 06-06 NASD Requests Comment on Proposed Interpretive Material IM-3060 Addressing Gifts and Business Entertainment; The comment period was extended to March 3, 2006. Comment Period Expired February 23, 2006 Posted on: 1/23/06 |
2005 |
| 05-63 NASD Seeks Comment on Increasing the Frequency of Short Interest Reporting; Comment Period Expired November 29, 2005 Posted on: 9/30/05 |
| 05-61 NASD Solicits Member Comment on Possible Realignment of the Trading Activity Fee; Comment Period Expired October 31, 2005 Posted on: 9/16/05 |
| 05-40 NASD Requests Comment on Proposal to Prohibit All Product-Specific Sales Contests and to Apply Non-Cash Compensation Rules to Sales of All Securities; Comment Period Expired August 5, 2005 Posted on: 5/9/05 |
| 05-27 NASD Requests Comment on Proposal to Require Principal Pre-Use Approval of Member Correspondence to 25 or More Existing Retail Customers within a 30-Calendar-Day Period; Comment Period Expired May 27, 2005 Posted on: 4/13/05 |
| 05-25 NASD Requests Comment on Proposal to Require Pre-Use Filing of Advertisements and Sales Literature for New Types of Securities and of Television, Video and Radio Advertisements; Comment Period Expired May 20, 2005 Posted on: 4/6/05 |
| 05-21 NASD Requests Comment on Proposed Rule Requiring Members to Provide Additional Disclosures for Transactions in Debt Securities; Comment Period Expired April 19 Posted on: 3/18/05 |
| 05-11 NASD Issues Further Guidance Regarding Members' Obligations under Section 3 of Schedule A to the NASD By-Laws; NASD Also Seeks Member Comment on Related Automation Issues; Comment Period Expired March 30, 2005 Posted on: 2/4/05 |
2004 |
| 04-83 NASD Requests Comment on Whether to Propose New Rule That Would Address Conflicts of Interest When Members Provide Fairness Opinions in Corporate Control Transactions; Note: The comment period was extended to February 1, 2005. Comment Period Expired January 10, 2005 Posted on: 11/11/04 |
| 04-80 NASD Seeks Comment on Proposed Changes to the OATS Rules; Comment Period Expired January 20, 2005 Posted on: 11/9/04 |
| 04-75 NASD Seeks Comment on Enhanced Disclosure for Subordination Agreements; Comment Period Expired November 26, 2004 Posted on: 10/12/04 |
| 04-55 NASD Requests Comment on a Proposed Uniform Branch Office Registration Form; Comment Period Expired September 3, 2004 Posted on: 8/4/04 |
| 04-45 NASD Seeks Comment on Proposed Rule to Impose Specific Sales Practice Standards and Supervisory Requirements on Members for Transactions in Deferred Variable Annuities; Comment Period Expires August 9, 2004 Posted on: 6/9/04 |
| 04-23 NASD Seeks Comment On (1) Amending its Minor Rule Violation Plan (MRVP) to Include Failure Timely to Submit Amendments to the Uniform Termination Notice for Securities Industry Registration (Form U5); and (2) Adopting a Rule to Create an Inactive Disclosure Review Registration Status; Comment Period Expired April 19, 2004 Posted on: 3/18/04 |
| 04-07 NASD Requests Comment on Proposed Amendments to Rules 2710 (Corporate Financing) and 2810 (Direct Participation Programs); This version corrects certain administrative and other non-substantive text. Comment Period Expired March 12, 2004 Posted on: 2/3/04 |
2003 |
| 03-77 Disclosure of Mutual Fund Expense Ratios in Performance Advertising: NASD Requests Comment on Proposed Amendments to Rules 2210 (Communications With the Public) and 2211 (Institutional Sales Material); Comment Period Expired January 23, 2004 Posted on: 12/9/03 |
| 03-76 NASD Seeks Comment on Enhanced Access to NASD BrokerCheck (Formerly Known as NASD's Public Disclosure Program); Access to Information Available Under Interpretive Material 8310-2; Comment Period Expired January 9, 2004 Posted on: 12/4/03 |