FINRA Seeks to Streamline Reporting Rules on Outside Activities

Partner Ben Marzouk is interviewed by ThinkAdvisor about proposed new rules from FINRA that would replace the existing separate rules for outside business activities (Rule 3270) and private securities transactions (Rule 3280) with a new consolidated rule (Rule 3290) that would cover both outside business activities and private securities transactions.

Ben said these changes “would substantially simplify the requirements related to broker-dealer associated person activities done away from the firm," adding that “this is a renewed attempt by FINRA to simplify the reporting requirements and ease the burden on member firms.”

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