X

SEC Requests Further Comment on Proposed "Lending and Borrowing" Rule

The SEC requested further comment on proposed amendments to FINRA Rule 3240 ("Borrowing From or Lending to Customers").

The proposed amendments would "strengthen the general prohibition against borrowing and lending arrangements with customers, narrow some of the existing exceptions to [those] prohibition[s] ...and enhance the [notification] requirements for ...approval of such arrangements." (See previous coverage.)

The original comment period closed on February 12, 2024. The new deadline is May 15, 2024.

Primary Sources

  1. SEC Federal Register: Notice: Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend FINRA Rule 3240 (Borrowing From or Lend

Related Articles

Premium Content

Available only to Premium subscribers.

 

Join Premium

US Regulatory Intelligence combines regulatory and enforcement news, analysis, and practical work tools on an easy-to-use digital platform.

Request a Free Trial

Tags

Regulated Activities
Conflicts of Interest Suitability and Consumer Protection
Sub-Activity
Borrowing From or Lending to Customers
Regulated Entities
Broker-Dealers
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
SEC