01.16.20
FINRA Seeks Comments on Rule Requiring Complaints, Arbitration Claim Reports
by: Melanie Waddell
FINRA is seeking feedback on its rule requiring broker-dealers to report to FINRA internal violations, information regarding written customer complaints, and specified criminal actions, civil complaints, and arbitration claims. As part of a retrospective review of its rules, FINRA wants comments by March 9 on Rule 4530, which also contains provisions obligating associated persons to promptly report to their member firms the existence of certain reportable events. In providing feedback, firms should consider how the original purposes and need for the rule have been affected by regulatory, technological, or other environmental changes, FINRA said.
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