Aggregated News From Investment Management Regulators

Proposed Rule Change to Adopt Supplementary Material .19 (Residential Supervisory Location) under FINRA Rule 3110 (Supervision)

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Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to adopt new Supplementary Material .19 (Residential Supervisory Location) under FINRA Rule 3110 (Supervision) that would align FINRA’s definition of an office of supervisory jurisdiction (“OSJ”) and the classification of a location that supervises activities at non-branch locations with the existing residential exclusions set forth in the branch office definition to treat a private residence at which an associated person engages in specified supervisory activities as a non-branch location, subject to safeguards and limitations.  In accordance with Rule 3110(c), as a non-branch location, a Residential Supervisory Location would become subject to inspections on a regular periodic schedule, which is presumed to be at least every three years,  rather than an annual inspection requirement required of OSJs and other supervisory branch offices.

Title Format – Size Status
Text of the Proposed Rule Change PDF – 2.34 MB
Federal Register Notice PDF – 889.37 KB
Extension No. 1 PDF – 2.03 MB New

This news item was originally published by the Financial Industry Regulatory Authority (FINRA US). For more information, see the Source Link.

Regulator Information

Abbreviation: FINRA
Jurisdiction: United States

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