Corporate & Financial Weekly Digest, Featuring Articles on New Rule 3241 from FINRA, Requests for Comment from the SEC on Money Market Fund Reform Options and Revised Hart-Scott-Rodino Filing Thresholds Released by the FTC for 2021

BROKER-DEALER -

FINRA New Rule 3241 Becomes Effective February 15 -

On February 15, Financial Industry Regulatory Authority (FINRA) new Rule 3241 — “Registered Person Being Named a Customer’s Beneficiary or Holding a Position of Trust for a Customer” — becomes effective. The new rule limits any associated person of a member firm who is registered with FINRA (each a “registered person”) from being named a beneficiary, executor or trustee, or to have a power of attorney or similar position of trust for or on behalf of a customer.

Please see full Newsletter below for more information.

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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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