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July 26, 2014

Proposed Rule Change to Amend FINRA Rule Regarding Investor Education and Protection Disclosures

The Financial Industry Regulatory Authority filed a proposed rule change to amend FINRA Rule 2267 to require a member firm to include a description of and link to FINRA BrokerCheck on its website, social media page and any comparable Internet presence. The BrokerCheck description and link would also need to be included on the website, social media page and any comparable Internet presence maintained by or on behalf of any person associated with a member that relate to the firm’s investment banking or securities business. FINRA would provide members with the text description and web address format for the link to BrokerCheck. FINRA will publish a Regulatory Notice announcing the effective date of the proposed rule change no later than 60 days following approval by the Securities and Exchange Commission of the proposed rule. FINRA will provide guidance regarding the prominence and placement of the BrokerCheck description and link in such Regulatory Notice.

The FINRA Rule Filing is available here

©2014 Katten Muchin Rosenman LLP

About the Author

James D. Van De Graaff, Katten Muchin Law Firm, Financial Institutions Attorney
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.

312-902-5227

About the Author

Staff Attorney

Tanja Samardzija concentrates her practice in financial services. Ms. Samardzija began her legal career as a litigator before embarking on a career in market regulation at the Chicago Board Options Exchange (CBOE). Ms. Samardzija’s work at the CBOE has familiarized her with a wide variety of regulatory matters including exchange and SEC investigations; compliance issues related to registrations, market making and options order handling; and risk management controls and supervisory procedures for brokers or dealers with market access. In addition to being thoroughly involved in...

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