FINRA Proposes Extended Relief for Staff

FINRA proposed extending the effective date of certain temporary rule amendments to provide FINRA staff with short-term relief from certain enforcement and other procedural requirements while operations are impacted by COVID-19. If approved by the SEC, the effective date of the amendments would be extended from June 15, 2020 to July 31, 2020.

As previously covered, the amendments provide FINRA staff with relief from "timing, method of servicing and other procedural requirements" in order to protect their health and safety, while also permitting FINRA to continue with critical review processes. In addition, the amendments "require applicants, respondents and other parties to serve or file certain documents or other information by electronic mail, unless the parties agree to an alternative method."