Regulatory Notice 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

Executive Summary

As part of the process to develop a new consolidated rulebook (the Consolidated FINRA Rulebook), FINRA is requesting comment on proposed new FINRA Rule 3210 (Personal Securities Transactions for or by Associated Persons). The proposed rule, which combines and streamlines certain provisions of NASD Rule 3050 and Incorporated NYSE Rule 407 in addition to adopting additional requirements, would promote more effective oversight of the personal trading activities of associated persons of member firms.


This Notice also requests comment on how firms currently obtain information pursuant to NASD Rule 3050 or NYSE Rule 407, as applicable, and the processes and controls currently implemented upon receipt of such information.


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


Questions regarding this Notice should be directed to Adam H. Arkel, Assistant General Counsel, Office of General Counsel, at (202) 728-6961.

View Full Notice PDF 102 KB

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
Markus Witthaut (PDF 14 KB) 4/23/2009
Sykes Financial Services LLC (PDF 15 KB) 4/23/2009
IBSI (PDF 24 KB) 4/27/2009
NPB Financial Group, LLC (PDF 44 KB) 4/30/2009
Michele R. Huneycutt (PDF 48 KB) 5/6/2009
Pagemill Partners (PDF 44 KB) 5/27/2009
Channel Capital Group LLC (PDF 59 KB) 5/27/2009
Karen Z. Fischer (PDF 15 KB) 5/28/2009
J.A. Glynn & Co. (PDF 26 KB) 5/28/2009
Bob Hillard (PDF 15 KB) 5/28/2009
Quasar (PDF 50 KB) 5/29/2009
National Planning Holdings, Inc. (PDF 40 KB) 5/29/2009
MWA Financial Services, Inc. (PDF 33 KB) 6/3/2009
H & L Equities, LLC (PDF 13 KB) 6/4/2009
Investment Company Institute (PDF 92 KB) 6/4/2009
Wells Fargo Advisors, LLC (PDF 57 KB) 6/4/2009
People's Securities (PDF 20 KB) 6/4/2009
State Farm VP Management Corp. (PDF 128 KB) 6/4/2009
Charles Schwab & Co., Inc. (PDF 575 KB) 6/5/2009
Taurus Compliance Consulting, LLC (PDF 2,195 KB) 6/5/2009
PFS Investments Inc. (PDF 92 KB) 6/5/2009
Farmers Financial Solutions, LLC (PDF 17 KB) 6/5/2009
Pacific Select Distributors, Inc. (PDF 73 KB) 6/5/2009
Sutherland Asbill & Brennan LLP (PDF 77 KB) 6/5/2009
ACLI (PDF 77 KB) 6/5/2009
Northwestern Mutual Investment Services, LLC (PDF 679 KB) 6/5/2009
UBS Securities LLC (PDF 52 KB) 6/5/2009
Financial Services Institute (PDF 77 KB) 6/5/2009
SunTrust Investment Services, Inc. (PDF 130 KB) 6/5/2009
GWFS Equities, Inc. (PDF 27 KB) 6/5/2009
NAIBD (PDF 58 KB) 6/5/2009
SIFMA (PDF 71 KB) 6/8/2009
NSCP (PDF 97 KB) 6/8/2009