The Financial Industry Regulatory Authority has issued Regulatory Notice 13-07 seeking comment on proposed rules governing markups, markdowns, commissions and fees.
FINRA in February 2011 solicited comment on the proposals in Regulatory Notice 11-08 and the new notice reflects several of the changes made in considering the earlier comments, particularly on: retaining the 5 percent markup policy in NASD IM-2440-1;
revising certain factors used to determine the reasonableness of markups and commissions;
eliminating the requirement to provide retail customers with commission schedules for equity securities transactions; and
extending the proposed markup rules to transactions in certain government securities. The deadline to comment on the new proposal is April 1.
This article is only available in full to Compliance Complete
North America Subscribers who are logged in.
Please log in to see if you can view this content.