SEC Approves Consolidated FINRA Rule Governing Reporting Requirements

FINRA Regulatory Notice 11-06

Date

February 3, 2011

FINRA published a notice to announce that the SEC recently approved its proposal to adopt new rules governing reporting requirements in the consolidated rulebook, and to announce that the effective date for the new rules will be July 1, 2011. The new rule, FINRA 4530, is based in large part on NASD Rule 3070 and NYSE Rule 351, and requires firms to (1) report certain events and quarterly statistical and summary information as to customer complaints and (2) file with FINRA copies of certain criminal convictions, civil complaints, and arbitration claims.

Cross References

SR-FINRA-2010-034

SEC Release 34-63260 (Approval)

FINRA Rule 4530