Additional Guidance on FINRA’s New Suitability Rule
This rule filing was withdrawn and was replaced with SR-NASD-2004-116.
NASD has filed with the SEC a proposed rule change to align certain supervisory control and inspection requirements in NASD Rules 3010 and 3012 with the supervisory control and inspection requirements in New York Stock Exchange ("NYSE") Rules 342.19 and 342(a)(b)/03. The SEC approved these rules on June 17, 2004. In
The Variable Annuities topic of the 2024 FINRA Annual Regulatory Oversight Report (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) regulatory obligations and related considerations, (2) findings and effective practices, and (3) additional resources.
On December 8, 2016, FINRA filed with the SEC a proposed rule change for immediate effectiveness relating to Rule 4554 reporting requirements for Alternative Trading Systems (“ATSs”). Specifically, FINRA amended Rule 4554 to require ATSs to provide additional order sequencing information on reports submitted to the Order Audit Trail System (“OATS”).
Rule 4554(b) originally
Proposed Rule Change Relating to Elimination and Modification of Duplicative Rules After Implementation of the Consolidated Audit Trail
The purpose of this Notice is to advise FINRA member firms that FINRA is temporarily increasing the maintenance margin requirements for auction rate securities pursuant to NYSE Rule 431(f)(8)(A) and NASD Rule 2520(f)(8)(A).
I am able to decide for myself and my family which investments are right for us. I neither want nor need a regulatory body making rules and restrictions on this. The proposed FINRA Rule #22-08 is merely a wealth- (& power-) -hoarding tactic of those who already have it. Its out of touch and wrong. The Rule must be rejected.
08-48 - Special Allowance to Permit Bulk Exchanges of Shares of Certain Reserve Funds
Amendments to Alternative Display Facility Rules to Require Advance Written Notice of Denial of Direct or Indirect Electronic Access
Summary
FINRA has amended its suitability rule, Capital Acquisition Broker (CAB) suitability rule and rules governing non-cash compensation to provide clarity on which standard applies and to address potential inconsistencies with the Securities and Exchange Commission’s (SEC’s) Regulation Best Interest (Reg BI).1 These changes have been approved by the SEC and become effective on June 30, 2020
