« SEC Charges Former Hedge Fund Portfolio Manager with Insider Trading in Drug Trials Information | Main | COURT ENTERS SUMMARY JUDGMENT AGAINST RECIDIVIST MAYER AMSEL AND HIS BROTHER DAVID AMSEL IN MARKET MANIPULATION CASE »
April 13, 2011
FINRA Delays Effective Date for Suitability and Know Your Customer Rules
FINRA filed with the SEC a proposed rule change to delay the implementation date for FINRA Rule 2090 (Know Your Customer) and FINRA Rule 2111 (Suitability), as approved in SR-FINRA-2010-039, until July 9, 2012 (from Oct. 7, 2011). FINRA designated the proposed rule change as constituting a “non-controversial” rule change which renders the proposal effective upon filing. The SEC published a notice to solicit comments from interested persons.
According to FINRA, numerous firms requested that the approved rules’ implementation date be delayed to allow firms additional time to determine the types of systems and procedural changes they need to make, implement those changes, and educate associated persons and supervisors regarding compliance with the rules.
TrackBack URL for this entry:
Listed below are links to weblogs that reference FINRA Delays Effective Date for Suitability and Know Your Customer Rules: