*Letters

Regulatory Notice 15-22

Published on:
August 17, 2015
Committee:

SIFMA provides comments to FINRA on Regulatory Notice 15-22, a proposed rule regarding member firms’ supervisory requirements for discretionary accounts and transactions. The Proposal would be adopted in the Consolidated FINRA Rulebook as new FINRA Rule 3260. SIFMA applauds FINRA’s continued efforts to streamline the Consolidated FINRA Rulebook by grouping together rules that apply to similar subject matter and eliminating obsolete or duplicative rules. With respect to the Proposal, SIFMA supports FINRA’s goal of preventing unauthorized and excessive trading in discretionary accounts by member firms and their associated persons. Notwithstanding this support, SIFMA recommends several changes to the Proposal to better align its costs with its investor protection benefits, including changes to the Proposal’s manual signature requirement and the types of accounts covered by the Proposal (such as 10b5-1 plans, orphaned accounts, and certain assets held directly).

See also:

Regulatory Notice 15-22

Rulebook Consolidation Process

Details

Download

More Content

  • Amicus Briefs
    Oct 05, 2026

    In re The Boeing Company Securities Litigation

  • Letters
    Oct 05, 2026

    Reducing Duplicative Regulation and Expanding Exemptions for Commodity Pool Operators and Commodity Trading Advisors

    SIFMA AMG comments on CFTC proposals to reduce duplicative regulation for certain CPOs and CTAs and account for inflation.
  • Letters
    Sep 30, 2026

    Proposed Rule Change to Amend FINRA Rules 0150, 2165, 4512 and to Adopt FINRA Rule 2166

    SIFMA Comments to SEC in support of the proposed rule changes to improve the utilization of Rules 2165 and 4512, as well as the new Rule 2166 to allow for a temporary delay for suspected fraud.

Get the latest trends, stats, and research on financial markets and securities.