FINRA Capital Acquisition Broker Proposal Approved - Broker-Dealers Conducting Only Certain Private Fund Placement Services or Corporate Finance or Investment Banking Advisory Activities May Elect to Be Governed by More Limited FINRA Rule Set

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In August 2016, the SEC approved FINRA’s proposal to permit firms conducting only enumerated corporate financing activities (“capital acquisition brokers” or “CABs”) to operate under a more limited FINRA rule set, a move intended to relieve those limited purpose firms from certain regulatory burdens. The implementation date will be no later than February 14, 2017.

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