SEC Approves FINRA Rule Regarding Sales or Offers of Sales of Securities to Military Members or Dependents (Fed. Reg.) (with Lofchie Comment)

The SEC order approving FINRA Rule 2272 was published in the Federal Register. The approved rule governs the sale or offer of sale of securities on the premises of any military installation or to members of the U.S. Armed Forces or their dependents. According to FINRA, the adoption of Rule 2272 complies with the statutory requirements of the Military Act.

Lofchie Comment: In adopting the Rule, FINRA determined not to adopt a number of suitability requirements that would have been very specific to sales to military personnel.

See: 80 FR 48376.Related news: FINRA Proposes Adoption of Rule Regarding Sales or Offers of Sales of Securities to Military Members or Dependents (Fed. Reg.) (May 13, 2015); FINRA Proposes Rule Regarding Sales or Offers of Sales of Securities to Military Members or Dependents (May 7, 2015).