FINRA Rules Governing Communications with the Public

SIFMA provides comments to the Securities and Exchange Commission (SEC) on Financial Industry Regulatory Authority (FINRA) proposed rules governing communications with the public.  SIFMA reiterates the importance of their original request, dated March 29, 2012, that FINRA modify proposed Rule 2210(b)(1) to permit a General Securities Sales Supervisor (i.e., a person holding a Series 9/10 license) to approve “retail communications” and specifically those communications that formerly were defined as “advertisements” under NASD Rule 2210(a)(1).  SIFMA again encourages FINRA to provide member firms with the maximum allowable amount of time, 365 days following SEC approval, as the compliance effective date.