FINRA Proposes New Rules Regarding Communications With The Public

Recently, the Financial Industry Regulatory Authority (FINRA) filed with the Securities and Exchange Commission (SEC) a proposal to adopt new rules governing FINRA member firms' communications with the public (the Proposal).¹ The Proposal would modify current National Association of Securities Dealers (NASD) rules and guidance, at the same time streamlining those rules.

Proposed FINRA Rule 2210 would replace current NASD Rules 2210 and 2211, certain Interpretive Materials that follow NASD Rule 2210 and portions of Incorporated New York Stock Exchange Rule 472. Each of the other Interpretive Materials that follow NASD Rule 2210 would be replaced by proposed FINRA Rules 2212 through 2216 and would adopt the same communication categories used in proposed FINRA Rule 2210. FINRA originally published the proposed rules in Regulatory Notice 09-55 in September 2009, and has now issued this Proposal amending the proposed rules based on input from comment letters on the