Comment Deadline Set for FINRA Proposed Supervisory Residential Location Requirements

Comments on the FINRA rule proposal to "treat a private residence at which an associated person engages in specified supervisory activities as a non-branch location" are due on April 27, 2023. The comment deadline was published in the Federal Register.

As previously covered, the FINRA rule proposal would make the location of a private residence subject to inspections on a regular periodic schedule. FINRA's proposal would adopt new Supplementary Material .19 ("Residential Supervisory Location") under FINRA Rule 3110 ("Supervision") to align with FINRA’s current residential exclusions. If adopted, FINRA said that the proposal would retain key safeguards for books and recordkeeping.