Regulatory Notice 09-71

SEC Approves Consolidated FINRA Rules Governing Financial Responsibility

Effective Date: February 8, 2010
Attachment A to this Notice was updated on January 25, 2010, pursuant to SR-FINRA-2010-004.

The SEC approved FINRA's proposed rule change to adopt a new set of financial responsibility rules for the consolidated rulebook (the Consolidated FINRA Rulebook). FINRA Rules 4110, 4120, 4130, 4140 and 4521 are new consolidated rules governing financial responsibility that are based in part on, and replace, provisions in the NASD and Incorporated NYSE Rules. The rule change also amends FINRA Rules 9557 and 9559 to, among other things, provide members served with a notice under the financial responsibility rules an expedited appeal process, and makes certain conforming revisions to Section 4(g) of Schedule A to the FINRA By-Laws.

The text of the new rules is set forth in Attachment A on our Web site at The chart in Attachment B summarizes the applicability of the new rules to members.

Questions concerning this Notice should be directed to:

  • Kris Dailey, Vice President, Risk Oversight & Operational Regulation (ROOR), at (646) 315-8434;
  • Susan DeMando Scott, Associate Vice President, Financial Operations Department, at (202) 728-8411; or
  • Adam H. Arkel, Assistant General Counsel, Office of General Counsel, at (202) 728-6961.

Related Documents: 

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Regulatory Notice 09-71 - Attachment APDF - 139.45 KB