(a) A member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer's investment profile. A customer's investment profile includes,
(a) Applicability
No person associated with a member shall participate in any manner in a private securities transaction except in accordance with the requirements of this Rule.
(b) Written Notice
Prior to participating in any private securities transaction, an associated person shall provide written notice to the member with which he is associated describing in detail the proposed transaction
(a) Recovery of cost of services. FINRA shall, in accordance with this section, collect member regulatory fees that are designed to recover the costs to FINRA of the supervision and regulation of members, including performing examinations, financial monitoring, and policy, rulemaking, interpretive, and enforcement activities. FINRA shall periodically review these revenues in conjunction with
(a) Hearing Session Fees
(1) Hearing session fees will be charged for each hearing session. The total amount chargeable to the parties for each hearing session is based on the amount in dispute, as specified in the schedule below. In the award, the panel will determine the amount of each hearing session fee that each party must pay.
Hearing Session Fees
Amount of Claim
(a) Fees for Claims Filed by Associated Persons
(1) Associated persons who file a claim, counterclaim, cross claim or third party claim must pay a filing fee in the amount indicated in the schedule below.
Filing Fees for Claims Filed by Associated Persons
Amount of Claim
(exclusive of interest
and expenses)
Filing Fee
$.01 to $1,000
$50
(a) A surcharge in the amount indicated in the schedule below will be assessed against each member that:
(1) Files a claim, counterclaim, cross claim, or third party claim under the Code;
(2) Is named as a respondent in a claim, counterclaim, cross claim, or third party claim filed and served under the Code; or
(3) Employed, at the time the dispute arose, an associated person who is named as a
(a) Each member that is a party to an arbitration in which more than $25,000, exclusive of interest and expenses, is in dispute must pay non-refundable process fee, due at the time the parties are sent arbitrator lists in accordance with Rule 13403(b), as set forth in the schedule below.
Process Fee Schedule
Amount of Claim
(exclusive of interest
and expenses)
(a) DefinitionsFor purposes of this Rule and any interpretation thereof:(1) "Communications" consist of correspondence, retail communications and institutional communications.(2) "Correspondence" means any written (including electronic) communication that is distributed or made available to 25 or fewer retail investors within any 30 calendar-day period.(3) "Institutional
The right to have any action taken pursuant to this Rule Series reviewed by the SEC is governed by Section 19 of the Exchange Act. The filing of an application for review shall not stay the effectiveness of final action by FINRA, unless the SEC otherwise orders. Pursuant to Rules 9524(b)(3) and 9525(e), a decision to deny an application for a disqualified member’s continued membership shall not
(a) Payment to TreasurerAll fines and other monetary sanctions shall be paid to the Treasurer of FINRA and shall be used for the general corporate purposes.(b) Summary Suspension or Expulsion(1) After seven days notice in writing, FINRA may summarily suspend or expel from membership a member that fails to:(A) pay promptly a fine or other monetary sanction imposed pursuant to Rule 8310 or cost
