Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Monday, August 23, 2010

SEC Republishes FINRA Rule Proposal on Suitability, Know Your Customer

On August 13, 2010, the SEC sent to the Federal Register for publication Release No. 34-62718 - a Notice that the Financial Industry Regulatory Authority, Inc. (“FINRA”) had proposed rule changes to adopt FINRA Rules 2090 (Know Your Customer) and 2111 (Suitability).  On August 18, 2010, Commission staff discovered that several footnote cross-references in the August 13 Notice were inaccurate. Accordingly, today the SEC issued a corrected notice that does not substantively amend the August 13 Notice, but whose sole purpose is to rectify the footnote errors and alleviate any resulting confusion. As the number of footnotes affected is significant, the entire August 13 Notice is being republished with corrected footnotes.

http://lawprofessors.typepad.com/securities/2010/08/sec-republishes-finra-rule-proposal-on-suitability-know-your-customer.html

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