FINRA Requests Comments on Amendments to Rules Governing Communications with the Public (FINRA Reg. Notice 15-16)

FINRA issued a regulatory notice requesting comments on proposed amendments to the FINRA rules governing communications with the public.

The proposed amendments would revise the filing requirements in FINRA Rule 2210 (“Communications with the Public”) and FINRA Rule 2214 (“Requirements for the Use of Investment Analysis Tools”) and the content and disclosure requirements in FINRA Rule 2213 (“Requirements for the Use of Bond Mutual Fund Volatility Ratings”).

FINRA intends for the proposed amendments to tighten the scope of firm filing requirements by requiring new firms to file only their Web sites and material changes to their Web sites with FINRA within 10 business days after first use for a one-year period, rather than 10 business days prior to first use. FINRA expects to continue to review new firms’ communications for adherence with applicable standards by focusing on their Web sites after they are filed with FINRA, and reviewing applicants’ Web sites as part of the new firm application process.

Comments on the proposal must be submitted by July 2, 2015.

Lofchie Comment: Any regulatory rule change that is practical, and that serves the interests of both firms and businesses – as this one does – should be supported and commended.

Comments are closed.