SEC Approves FINRA's Consolidated Financial Responsibility and Related Operational Rules


The Securities and Exchange Commission approved the Financial Industry Regulatory Authority's proposed consolidated rules regarding financial responsibility and related operational rules. FINRA Rules 4150, 4311, 4522 and 4523 (Consolidated Rules) are partially derived from and replace certain provisions in the New York Stock Exchange and National Association of Securities Dealers Rules. The Consolidated Rules, together with those consolidated financial responsibility rules that the SEC approved in late 2009, were adopted to permit FINRA to better effectuate "its financial and operational surveillance and examination programs." The Consolidated Rules are effective as of August 1.

A summary of each of the Consolidated Rules follows...

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