Regulatory Notice 09-29

FINRA Requests Comment on Proposed FINRA Rule Addressing the Origination and Circulation of Rumors

Comment Period Expired: July 16, 2009

As part of the process of developing a new, consolidated rulebook (the Consolidated FINRA Rulebook), FINRA is requesting comment on proposed FINRA Rule 2030 relating to the origination and circulation of rumors. FINRA initially sought comment on the proposed rule, which is based on FINRA Rule 6140 and Incorporated NYSE Rule 435(5), in Regulatory Notice 08-68. In response to the comments received, FINRA is proposing substantial changes to proposed FINRA Rule 2030. The proposed changes include amendments to the general prohibition in Rule 2030 and the proposed reporting requirement, as well as adopting Supplementary Material to Rule 2030 that will address exceptions for certain communications, the definition of the term "rumor," additional rules of which member firms should be aware, and a firm's obligation to adopt written policies and procedures concerning rumors. FINRA is requesting comment on the proposed revisions to Rule 2030.

The text of the proposed rule is set forth in Attachment A.

Questions concerning this Notice should be directed to Brant Brown, Associate General Counsel, Office of General Counsel, at (202) 728-6927.

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: 
DateCommenterFormat - Size
6/4/2009Johns S. Chapman & Associates, LLCPDF - 28.07 KB
6/4/2009Buell Securities Corp.PDF - 26.82 KB
6/25/2009The Vanderbilt PlazaPDF - 28.02 KB
7/9/2009National Planning Holdings, Inc.PDF - 33.67 KB
7/14/2009NSCPPDF - 59.6 KB
7/16/2009SIFMAPDF - 32.93 KB
7/17/2009Taurus Compliance Consulting, LLCPDF - 1.02 MB
7/20/2009Fairfax Financial Holdings LimitedPDF - 1.24 MB