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FINRA Requests Comments on Proposal to Adopt New Rule Regarding Discretionary Accounts and Transactions (Reg. Notice 15-22)

FINRA issued a regulatory notice requesting comments on its revised proposal. The proposal would adopt a consolidated rule (FINRA Rule 3260) regarding discretionary accounts and transactions in the consolidated FINRA rulebook.

The revised proposal, which reflects comments on the initial proposal, addresses the treatment of customers' free credit balances, sweep programs, bulk transfers of customers' accounts and changes of broker-dealers of record.

Comments must be submitted by August 17, 2015.

See: Regulatory Notice 15-22.

Tags

Regulated Activities
Advice and Fiduciary Account Handling
Sub-Activity
Discretionary Accounts and Unauthorized Trading
Regulated Entities
Broker-Dealers
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
FINRA