Regulatory Notice 11-25

New Implementation Date for and Additional Guidance on the Consolidated FINRA Rules Governing Know-Your-Customer and Suitability Obligations

 

Implementation Date: July 9, 2012

Executive Summary

On November 17, 2010, the Securities and Exchange Commission (SEC) approved FINRA’s proposal to adopt rules governing know-your-customer and suitability obligations for the consolidated FINRA rulebook. On January 10, 2011, FINRA issued Regulatory Notice 11-02, which provided guidance regarding the new rules and announced an implementation date. This Notice announces a new implementation date of July 9, 2012, and provides additional guidance in response to some recent industry questions and concerns.

 

Questions regarding this Notice should be directed to James S. Wrona, Vice President and Associate General Counsel, Office of General Counsel, at (202) 728-8270.