Regulatory Notice 11-48

FINRA Requests Comment on a Proposed New Rule Requiring Carrying/Clearing Member Firms to Maintain and Keep Current Certain Records in a Central Location


Comment Period Expired: December 9, 2011

Executive Summary

FINRA is requesting comment on a proposed new rule that would require each carrying or clearing member firm to maintain and keep current certain records in a central location to facilitate a more rapid and orderly transfer of customer accounts to another broker-dealer as well as a more orderly liquidation in the event the member firm can no longer continue to operate due to financial or operational problems.


The text of proposed FINRA Rule 4516 (Readily Identifiable and Accessible  Records) is set forth in Attachment A.


Questions regarding this Notice should be directed to:

  • Marshall J Levinson, Vice President, Member Regulation, at (646) 315-8453; and
  • Adam H. Arkel, Assistant General Counsel, Office of General Counsel, at (202) 728-6961.
View Full Notice PDF 116 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
Suzanne Shatto (PDF 20 KB) 11/9/2011
Guy Abbanat (PDF 39 KB) 12/1/2011
Arnold & Porter LLP (PDF 519 KB) 12/9/2011
Assent, LLC (PDF 222 KB) 12/9/2011
Integrated Management Solutions USA LLC (PDF 92 KB) 12/9/2011
Sutherland Asbill & Brennan LLP (PDF 92 KB) 12/9/2011
SIFMA (PDF 176 KB) 12/15/2011