FINRA Provides Additional Guidance on New Suitability Rule

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In response to industry questions, FINRA has released a third notice, Regulatory Notice 12-25, in order to provide additional guidance on the Rule. Regulatory Notice 12-25 addresses questions that are representative of the issues firms are attempting to resolve as they finalize their plans for compliance with the Rule. Nevertheless, FINRA has emphasized that it previously addressed numerous issues and it encourages firm’s to review (1) FINRA’s responses to comments submitted during the rulemaking process and (2) Regulatory Notices 11-02 and 11-25.

Click here for FINRA Regulatory Notice 12-25.

 

Published In: Administrative Agency Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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