Regulatory Notice 09-20

SEC Approval and Effective Date for New Consolidated FINRA Rules on the Transfer of Customer Accounts, Recommendations to Customers in OTC Equity Securities and Anti-Intimidation/Coordination

Effective Date: June 15, 2009

Following the consolidation of NASD and the member regulation, enforcement and arbitration functions of NYSE Regulation into FINRA, FINRA established a process to develop a new consolidated rulebook (Consolidated FINRA Rulebook), which FINRA has discussed in previous Information Notices. FINRA is proposing new consolidated rules in phases for approval by the SEC as part of the Consolidated FINRA Rulebook. In February and March 2009, the SEC approved three new consolidated FINRA Rules on the transfer of customer accounts in the context of employment disputes, recommendations to customers in OTC Equity Securities and anti-intimidation/coordination, which will take effect on June 15, 2009.

Questions regarding this Notice should be directed to:

  • Philip Shaikun, Associate Vice President and Associate General Counsel, Office of General Counsel (OGC), at (202) 728-8451 (regarding FINRA Rule 2114);
  • Brant Brown, Associate General Counsel, OGC, at (202) 728-6927 (regarding FINRA Rule 5240); or
  • Adam Arkel, Assistant General Counsel, OGC, at (202) 728-6961 (regarding FINRA Rule 2140).