FINRA Requests Comments on Proposed Coordination with the MSRB on Enforcement Actions and Examinations

FINRA's proposal to adopt Rule 0151 ("Coordination with the MSRB") and amend FINRA Rule 0150 ("Application of Rules to Exempted Securities except Municipal Securities") was published for public comment in the Federal Register.

Proposed Rule 0151 would mandate that the rules of a national securities organization require it to coordinate with the MSRB regarding enforcement actions and examinations pertaining to MSRB-regulated firms and activities. The purpose of the request is to allow FINRA to (i) assist in these enforcement actions and examinations, and (ii) evaluate the ongoing effectiveness of MSRB rules.

Amendments to Rule 0150(b) specify that FINRA rules be deemed not to regulate transactions in municipal securities.

Comments on the proposals are due by March 21, 2016.