Financial Regulatory Forum

FINRA’s new suitability rule looms, with expanded customer-information requirements

By Guest Contributor
June 27, 2012

By Nick Paraskeva

NEW YORK, June 27 (Thomson Reuters Accelus) - FINRA’s new suitability rule expanding customer information requirements and applying them to more transactions the is set to go into effect July 9, after delays requested by firms to get more time to adapt.

FINRA’s know-your-customer and suitability rules require brokerage changes, new strategies

By Guest Contributor
June 25, 2012

By Morris Simkin, Thomson Reuters Accelus contributing author

NEW YORK, June 25 (Thomson Reuters Accelus) - Know-Your-Customer Rule (FINRA Rule 2090) and a new Suitability Rule (FINRA Rule 2111). When these rules are read together, the information required of a customer is materially expanded, even in the case of institutional investors.