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FINRA's New Rule Proposal Eases the Ability for Brokers to Work From Home

On July 27, 2022, FINRA filed a proposed rule change with the SEC to make it easier for brokers to work from home.

The proposed rule will add a category termed a "Residential Supervisory Location" under FINRA Rule 3110 (Supervision) that will treat a private residence where an associated person engages in specified supervisory activities as a non-branch location, subject to certain conditions. A Residential Supervisory Location would become subject to inspections on a regular periodic schedule, generally at least every three years, rather than an annual inspection requirement. 

FINRA believes this work from home "model will endure, irrespective of the state of the pandemic. The pandemic accelerated reliance on technological advances in surveillance and monitoring capabilities and prompted significant changes in lifestyles and work habits, including the growing expectation for workplace flexibility.”

https://www.finra.org/sites/default/files/2022-07/sr-finra-2022-019.pdf

©2023 Katten Muchin Rosenman LLPNational Law Review, Volume XII, Number 215
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About this Author

Susan Light, Katten Law Firm, Finance Law Attorney, New York
Partner

Susan Light focuses her practice on financial services regulatory matters. She counsels broker-dealers, hedge funds, investment banks and financial services clients on enforcement issues involving the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), other self-regulatory organizations (SROs) and state and federal regulatory authorities. She has particular experience related to sales practice issues, financial and operational issues, anti-money laundering, crowdfunding, cybersecurity, and cryptocurrencies.

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212-940-8599
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