SEC Release: Approval of Delay in Implementation of FINRA KYC and Suitability Rules

SEC Release No. 34-64260; SR-FINRA-2011-016

April 8, 2011

The SEC declared immediately effective a FINRA proposal to delay the implementation date for FINRA Rule 2090 (Know Your Customer) and FINRA Rule 2111 (Suitability) to July 9, 2012. The rules, which will replace NYSE Rule 405(1) and NASD Rule 2310 upon their effective date, had previously been scheduled to go into effect in October 2011.

Cross References

SEC Release No. 34-63325 (approval of new rules)

FINRA RN 11-02 (announcing previous implementation date)

Lofchie's Guide to Broker-Dealer Regulation, Ch. 5, § 1.A (SRO KYC and suitability rules)