Regulatory Notice 09-34

FINRA Requests Comment on Proposed Consolidated FINRA Rule Governing Investment Company Securities; Comment Period Expired: August 3, 2009

Executive Summary

As part of the process to develop a new consolidated rulebook (the Consolidated FINRA Rulebook), FINRA is requesting comment on a proposed FINRA rule regarding the distribution and sale of investment company securities. The proposal is based on NASD Rule 2830, subject to certain changes, including proposed new requirements regarding disclosure of cash compensation.


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


Questions concerning this Notice should be directed to:


  • Joe Savage, Vice President and Counsel, Investment Companies Regulation, at (240) 386-4534; or
  • Stan Macel, Assistant General Counsel, Office of General Counsel, at (202) 728-8056.


View Full Notice PDF 95 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
GWFS Equities, Inc. (PDF 691 KB) 7/30/2009
Sutherland (PDF 133 KB) 8/3/2009
SIFMA (PDF 691 KB) 8/3/2009
Charles Schwab (PDF 691 KB) 8/3/2009
LPL Financial (PDF 1,016 KB) 8/3/2009
USAA (PDF 1,016 KB) 8/3/2009
Investment Company Institute (PDF 1,873 KB) 8/3/2009
Financial Services Institute (PDF 66 KB) 8/7/2009
Warner Norcross & Judd LLP (PDF 58 KB) 9/29/2009