Proposed Rule Change to Adopt FINRA Rule 2030 and FINRA Rule 4580 to Establish “Pay-To-Play” and Related Rules

Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to adopt FINRA Rules 2030 (Engaging in Distribution and Solicitation Activities with Government Entities) and 4580 (Books and Records Requirements for Government Distribution and Solicitation Activities) to establish “pay-to-play” and related rules that would regulate the activities of member firms that engage in distribution or solicitation activities for compensation with government entities on behalf of investment advisers.

TitleFormat - SizeStatus
Text of the Proposed Rule ChangePDF - 5.69 MB
Federal Register Notice PDF - 260.83 KB
Extension No. 1PDF - 203.97 KB
Response to CommentsPDF - 193.04 KB
Order Instituting Proceedings to Determine Whether to Approve or DisapprovePDF - 235.88 KB
Extension No. 2PDF - 68.15 KB
Second Response to CommentsPDF - 171.97 KB
Approval OrderPDF - 295.33 KB