FINRA Amends Proposal to Adopt Streamlined Customer Confirmation Rule

more+
less-

The Financial Industry Regulatory Authority is requesting comment on an amendment to a proposed FINRA rule regarding customer confirmations. New FINRA Rule 2232 (Customer Confirmations) would replace the current National Association of Securities Dealers (NASD) and New York Stock Exchange (NYSE) rules, which generally govern disclosures made in connection with customer trades and the settlement thereof. The amendment to Rule 2232, which rule was originally filed by FINRA on August 24, 2009, limits the application of the settlement date provisions in the rule to “transactions in traditional equity securities,” thereby excluding certain mutual fund and variable annuity transactions. FINRA intends the new rule, as amended, to be more straightforward and to streamline and combine the basic customer confirmation requirements currently set forth in NASD and NYSE rules. Comments are due by November 17.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.


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.

© Katten Muchin Rosenman LLP | Attorney Advertising

Written by:

more+
less-

Katten Muchin Rosenman LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×