FINRA Amends Guidance on Soliciting Business Internationally

FINRA RN 11-34

July 27, 2011

FINRA published a regulatory notice announcing that it is (i) reaffirming prior guidance in NASD NTM 00-02 and (ii) withdrawing guidance in NASD NTM 98-91, in light of changes to the regulatory framework in the United Kingdom.Notice 00-02 alerted firms of their obligations with respect to foreign law when soliciting business abroad.Notice 98-91 provided guidance on advertising to persons in the U.K., but FINRA found that changes in the U.K. regulatory structure no longer made that guidance appropriate.

Cross References

NASD NTM 00-02

NASD NTM 98-91