Regulatory Notice 11-26

SEC Approves Consolidated Financial Responsibility and Related Operational Rules

Effective Date: August 1, 2011

The SEC approved FINRA’s proposed rule change to adopt a set of financial responsibility and related operational rules for the consolidated rulebook (the Consolidated FINRA Rulebook). FINRA Rules 4150, 4311, 4522 and 4523 are new consolidated rules governing financial responsibility as well as certain operational and contractual requirements of members. The new rules are based in part on, and replace, provisions in the NYSE and NASD Rules.

The text of the new rules is set forth in Attachment A. The questionnaire that FINRA is specifying for use by carrying firms pursuant to new FINRA Rules 4311(b)(3) and 4311.02 is in Attachment B.

Questions regarding 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.