August 31, 2015

August 28, 2015

FINRA Provides Guidance on Rules Governing Communications with the Public

The Securities and Exchange Commission approved a rule change by the Financial Industry Regulatory Authority pursuant to which National Association of Securities Dealers (NASD) Rules 2210 and 2211 and NASD Interpretive Materials 2210-1 and 2210-3 through 2210-8 are to be adopted as FINRA Rules 2210 and 2212 through 2216 (the Communications Rules). The Communications Rules become effective on February 4. To provide additional guidance on compliance with the Communications Rules, FINRA has published a set of questions and answers on its website. The questions and answers cover a number of topics, including internal communications, transitional filing issues, new member firms, retail structured products, recommendations and public appearances.

FINRA Regulatory Notice 13-03 is available here. FINRA Rule 2210 Questions and Answers are available here.

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About this Author

James Van De Graaff, Katten Muchin Law Firm, Financial Institutions Partner, Chi
Partner

James D. Van De Graaff primarily represents broker-dealers, investment banks and market-making firms in the regulatory aspects of their business. He has more than 20 years of experience representing financial services clients in compliance reviews and training, mergers and acquisitions and responding to inquiries or investigations involving the US Securities and Exchange Commission (SEC) and securities self-regulatory organizations.

Formerly the general counsel of a full-service, regional securities broker-dealer and New York Stock Exchange...

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