Securities Law Prof Blog

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

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Wednesday, July 13, 2011

FINRA Proposes Revolving Door Restrictions on Former FINRA Officers

FINRA recently filed with the SEC a proposed rule change to amend (i) FINRA Rule 9141 (Appearance and Practice; Notice of Appearance) to prohibit a former officer of FINRA, for a period of one year after termination of employment with FINRA, from making an appearance before an adjudicator on behalf of any other person under the FINRA Rule 9000 Series; and (ii) FINRA Rule 9242 (Pre-hearing Submission) to prohibit a former officer of FINRA, for a period of one year after termination of employment with FINRA, from providing expert testimony on behalf of any other person under the FINRA Rule 9000 Series.  SR-FINRA-2011-032, Proposed Rule Change to Implement Revolving Door Restrictions on Former Officers of FINRA.

For industry reaction, see Inv. News, Critics slam Finra panel ban plan

http://lawprofessors.typepad.com/securities/2011/07/finra-proposes-revolving-door-restrictions-on-former-finra-officers.html

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