Regulatory Notice 16-18

SEC Approves Rule Requiring Delivery of an Educational Communication to Customers of a Transferring Representative

Effective Date: November 11, 2016


The SEC approved the adoption of FINRA Rule 2273 (Educational Communication Related to Recruitment Practices and Account Transfers), which establishes an obligation to deliver an educational communication in connection with firm recruitment practices and account transfers. The rule becomes effective November 11, 2016.

The rule text is available in Attachment A. The educational communication is available as Attachment B.

Questions regarding this Notice should be directed to:

  • Philip Shaikun, Vice President and Associate General Counsel, Office of General Counsel (OGC), at (202) 728-8451; or
  • Jeanette Wingler, Assistant General Counsel, OGC, at (202) 728-8013.