FINRA Proposes to Amend Rule 5110

FINRA filed with the SEC a proposed rule change to amend FINRA Rule 5110 ("Corporate Financing Rule – Underwriting Terms and Agreements"). The proposed rule change expands the circumstances in which termination fees and rights of first refusal are permissible and exempts certain exchange-traded funds formed as grantor or statutory trusts from filing requirements.

See: Text of Proposed Rule Change.