No Break for New Broker-Dealers, FINRA Says

New Financial Industry Regulatory Authority member firms must continue to submit retail communications used in any electronic or public media platform 10 business days prior to use for approval.

FINRA Rule 2210 requires that current FINRA members submit certain communications for approval prior to use. New members, however, are required to submit all retail communications 10 days before using for a one-year period.

The self-regulatory organization in May proposed easing the rule’s standard for new members to allow for submissions within 10 business days after first use98 SLD 98, 5/21/15, 47 SRLR 1032, 5/25/15, 98 DER 98, 5/21/15. ...