Regulatory Notice 08-24

Proposed Consolidated FINRA Rules Governing Supervision and Supervisory Controls; Comment Period Expired: June 13, 2008

Executive Summary

As part of the process of developing a new, consolidated rulebook (the Consolidated FINRA Rulebook),1 FINRA is requesting comment on proposals relating to the FINRA supervision and supervisory control rules (the proposed rules). The proposed rules would re-write certain provisions of the existing supervision and supervisory control rules in a manner that provides firms with greater flexibility to tailor their supervisory and supervisory control procedures to reflect their business, size and organizational structure.

The text of the proposed rules is set forth in Attachment A. Questions regarding this Notice should be directed to:

  • Patricia Albrecht, Assistant General Counsel, Office of General Counsel (OGC), at (202) 728-8026;
  • Brant Brown, Associate General Counsel, OGC, at (202) 728-6927; or
  • Kosha Dalal, Associate Vice President and Associate General Counsel, OGC, at (202) 728-6903.


1 The current FINRA rulebook consists of two sets of rules: (1) NASD rules and (2) rules incorporated from NYSE (Incorporated NYSE Rules) (together referred to hereinafter as the Transitional Rulebook). The Incorporated NYSE Rules apply only to those members of FINRA that are also members of the NYSE (Dual Members). Dual Members also must comply with NASD rules. For more information about the rulebook consolidation process, see FINRA Information Notice, March 12, 2008 (Rulebook Consolidation Process).

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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.

Comments By Date Received
Williams Financial Group, Inc. (PDF 33 KB) 5/29/2008
Purshe Kaplan Sterling Investments (PDF 334 KB) 5/29/2008
Thornburg Securities Corp. (PDF 33 KB) 5/29/2008
Williams Financial Group, Inc. (PDF 33 KB) 5/30/2008
Baker Avenue Asset Management (PDF 29 KB) 5/30/2008
Capitol Wealth, Inc. (PDF 719 KB) 6/2/2008
Hanlon Investment Management, Inc. (PDF 46 KB) 6/5/2008
The Beacon Financial Group Inc. (PDF 13 KB) 6/6/2008
ProEquities, Inc. (PDF 81 KB) 6/6/2008
Cornerstone Financial Planning (PDF 46 KB) 6/9/2008
Liberty Life Securities LLC (PDF 28 KB) 6/9/2008
St. Bernard Financial Services, Inc. (PDF 48 KB) 6/9/2008
MassMutual Financial Group (PDF 51 KB) 6/10/2008
National Planning Holdings, Inc. (PDF 65 KB) 6/12/2008
WealthTrust - Arizona LLC (PDF 269 KB) 6/12/2008
ICBA Financial Services (PDF 86 KB) 6/12/2008
Coordinated Capital Securities, Inc. (PDF 36 KB) 6/13/2008
George K. Baum & Company (PDF 46 KB) 6/13/2008
Great American Advisors, Inc. (PDF 45 KB) 6/13/2008
RW Smith & Associates, Inc. (PDF 78 KB) 6/13/2008
Financial Services Institute (PDF 78 KB) 6/13/2008
Janney Montgomery Scott LLC (PDF 922 KB) 6/13/2008
Sutherland (PDF 186 KB) 6/13/2008
Public Investors Arbitration Bar Association (PDF 133 KB) 6/13/2008
Nationwide Financial Services, Inc. (PDF 32 KB) 6/13/2008
National Society of Compliance Professionals Inc. (PDF 81 KB) 6/13/2008
PFS Investments Inc. (PDF 99 KB) 6/13/2008
NAIFA (PDF 80 KB) 6/13/2008
Northwestern Mutual Investment Services, LLC (PDF 147 KB) 6/13/2008
Financial Planning Association (PDF 65 KB) 6/13/2008
Securities Industry and Financial Markets Association (PDF 133 KB) 6/13/2008
LPL Financial Corporation (PDF 117 KB) 6/13/2008
Comerica Securities, Inc. (PDF 18 KB) 6/13/2008
Charles Schwab & Co., Inc. (PDF 1,120 KB) 6/13/2008
Wachovia Securities LLC (PDF 71 KB) 6/13/2008
National Association of Independent Brokers-Dealers, Inc. (NAIBD) (PDF 86 KB) 6/13/2008
M Holdings Securities, Inc. (PDF 69 KB) 6/13/2008
American Bankers Association, ABA Securities Association and The Clearing House Association LLC (PDF 57 KB) 6/13/2008
WilmerHale (PDF 371 KB) 6/13/2008
Goodman & Nekvasil, P.A. (PDF 86 KB) 6/13/2008
Prudential Financial (PDF 300 KB) 6/13/2008
Plexus Consulting Group (PDF 30 KB) 6/17/2008
Beacon Wealth Management, LLC (PDF 245 KB) 6/19/2008
Beacon Wealth Management, LLC (PDF 227 KB) 6/23/2008
ING Advisors Network (PDF 53 KB) 6/30/2008
Modern Woodmen (PDF 15 KB) 7/3/2008
National Futures Association (PDF 569 KB) 7/15/2008