FINRA Requests Comments on Proposed Rule Set for Limited Corporate Financing Brokers: FINRA Regulatory Notice 14-09

FINRA issued a notice to solicit comments on a proposed set of rules for firms that meet the definition of "limited corporate financing broker" ("LCFB").

According to the notice, an "LCFB" is a firm that engages in a limited range of activities, essentially advising companies and private equity funds on capital raising and corporate restructuring. The proposed rule set, or LCFB Rule 010 Series, would not apply to firms that carry or maintain customer accounts, handle customers' funds or securities, accept customers' trading orders, or engage in proprietary trading or market-making.

Comments are due by April 28, 2014.

See: FINRA Regulatory Notice 14-09.