3270. Outside Business Activities of Registered Persons
• • • Supplementary Material: --------------
.01 Obligations of Member Receiving Notice. Upon receipt of a written notice under Rule 3270, a member shall consider whether the proposed activity will: (1) interfere with or otherwise compromise the registered person's responsibilities to the member and/or the member's customers or (2) be viewed by customers or the public as part of the member's business based upon, among other factors, the nature of the proposed activity and the manner in which it will be offered. Based on the member's review of such factors, the member must evaluate the advisability of imposing specific conditions or limitations on a registered person's outside business activity, including where circumstances warrant, prohibiting the activity. A member also must evaluate the proposed activity to determine whether the activity properly is characterized as an outside business activity or whether it should be treated as an outside securities activity subject to the requirements of Rule 3280. A member must keep a record of its compliance with these obligations with respect to each written notice received and must preserve this record for the period of time and accessibility specified in SEA Rule 17a-4(e)(1).
Amended by SR-FINRA-2015-030 eff. Sept. 21, 2015.
Amended by SR-FINRA-2009-042 eff. Dec. 15, 2010.
Adopted by SR-NASD-88-34 eff. Oct. 13, 1988.
Selected Notices: 88-5, 88-45, 88-86, 89-39, 90-37, 94-44, 94-93, 96-33, 01-79, 10-49.
- Regulatory Notice 18-08February 26, 2018
- Regulatory Notice 17-20May 15, 2017
- Regulatory Notice 17-13April 10, 2017
- Regulatory Notice 16-12April 18, 2016
- Regulatory Notice 13-31September 25, 2013
- Regulatory Notice 12-55December 10, 2012
- Regulatory Notice 12-25May 18, 2012
- Regulatory Notice 10-49October 15, 2010
- Guidance, Notice, Regulatory NoticeSeptember 25, 2013
- Guidance, Notice, Regulatory NoticeDecember 10, 2012
- Guidance, Notice, Regulatory NoticeMay 18, 2012