FINRA Rules
Rule Filings Incorporated by Reference
IEX has incorporated certain FINRA rules by reference. As such, IEX will periodically provide updates where applicable when there are new proposals or approvals to amend these incorporated rules by FINRA. The FINRA rule filings are not effective until approved by the Securities and Exchange Commission ("SEC"), with the exception of certain types of rule filings that may take effect upon filing with the SEC if they meet the conditions specified under Section 19 of the Securities Exchange Act of 1934 and Rule 19b-4 thereunder. Below are relevant updates.
IEX Rule
FINRA Rule Filing Description
FINRA Rule Filing Link
Status
3.280- Communications with Customers and the Public
Proposed Rule Change to Amend FINRA Rule 2210 (Communications with the Public) to Permit Projections of Performance in Institutional Communications and Specified Communications to Qualified Purchasers
Approval stayed
4.120 - Regulatory Notification and Business Curtailment
Proposed Rule Change Relating to Security-Based Swaps
Effective
3.280 – Communications with Customers and the Public (incorporates FINRA Rule 2210)
Proposed Rule Change to create a filing exclusion under FINRA Rule 2210 for covered investment fund research reports.
Effective
3.280 – Communications with Customers and the Public (incorporates FINRA Rule 2210)
Proposed Rule Change to create a filing exclusion under FINRA Rule 2210 for covered investment fund research reports.
Effective
4.512 – Customer Account Information (incorporates FINRA Rule 4512)
Proposed Rule Change to amend paragraph (a)(3) of FINRA Rule 4512 (Customer Account Information) to permit the use of electronic signatures and to clarify the scope of the rule.
Effective
3.280 – Communications with Customers and the Public (incorporates FINRA Rule 2210)
Proposed Rule Change to Adopt NASD Interpretive Material 2210-2 as FINRA Rule 2211 (Communications with the Public About Variable Life Insurance and Variable Annuities) in the Consolidated FINRA Rulebook
Effective
3.280 – Communications with Customers and the Public (incorporates FINRA Rule 2210)
Proposed Rule Change to Clarify the Application of FINRA Rule 2210 (Communications with the Public) to Debt Research Reports
Effective
4.512 – Customer Account Information (incorporates FINRA Rule 4512)
Proposed Rule Change to amend FINRA Rule 4512 (Customer Account Information) to require members to make reasonable efforts to obtain the name of and contact information for a trusted contact person for a customer’s account
Effective
11.420(d) – Recording of Order Information (incorporates FINRA Rule 7440)
Rule change to update cross-references and make other non-substantive changes within FINRA rules, due in part to the adoption of a new consolidated FINRA rule.
Effective
FINRA Rules
FINRA Rule Filings to Amend FINRA Code of Arbitration
Pursuant to IEX Rule 12.110, "the Rule 12000 Series and Rule 13000 Series of the FINRA Manual (Code of Arbitration Procedures for Customer Disputes and Code of Arbitration for Industry Disputes) (the “FINRA Code of Arbitration”), as the same may be in effect from time to time, shall govern Exchange arbitrations except as may be specified in this IEX Rule 12.110. Definitions in the FINRA Code of Arbitration shall have the same meaning as that prescribed therein, and procedures contained in the FINRA Code of Arbitration shall have the same application as toward Exchange arbitrations."
As a result of IEX Rule 12.110, changes to the FINRA Code of Arbitration could have an impact on arbitrations conducted under IEX rules. Accordingly, below are links to pending FINRA rule filings with the SEC seeking to amend the FINRA Code of Arbitration as well as any SEC orders approving or disapproving those FINRA rule filings.
IEX Rule
FINRA Rule Filing Description
FINRA Rule Filing Link
Status
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Amend FINRA Rule 13606 (Record of Proceedings) to Provide Customers Access to a Copy of the Official Record of an Expungement Hearing
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Amend FINRA Rule 12800 (Simplified Arbitration) to Clarify and Amend the Applicability of the Document Production Lists
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Amend the Codes of Arbitration Procedure
Approval stayed
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Amend the Codes of Arbitration Procedure
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Change References in the Codes of Arbitration Procedure from the Neutral List Selection System to the List Selection Algorithm
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Amend the Codes of Arbitration Procedure to Modify the Current Process relating to the Expungement of Customer Dispute Information
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Make Technical and Other Non-Substantive Changes within FINRA Rules
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Amend the Code of Arbitration Procedure for Industry Disputes (“Code”) to Align the Code with the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Amend FINRA Rules to Reflect Name Changes to Two FINRA Departments: the Office of Dispute Resolution and the Department of Registration and Disclosure
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Amend the FINRA Code of Arbitration Procedure to Increase Arbitrator Chairperson Honoraria and Certain Arbitration Fees
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Amendments to the Codes of Arbitration Procedure Relating to Requests to Expunge Customer Dispute Information, Including Creating a Special Arbitrator Roster to Decide Certain Expungement Requests
Withdrawn
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Amendments to the Codes of Arbitration Procedure Relating to Requests to Expunge Customer Dispute Information, Including Creating a Special Arbitrator Roster to Decide Certain Expungement Requests
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Amend FINRA Rule 12000 Series to Expand Options Available to Customers if a Firm or Associated Person is or Becomes Inactive
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Expand Time for Non-Parties to Respond to Arbitration Subpoenas and Orders of Appearance of Witnesses or Production of Documents
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Provide That FINRA Will Pay Each Arbitrator a $200 Honorarium to Decide Without a Hearing Session a Contested Subpoena Request or a Contested Order for Production or Appearance
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Create a $100 Fee and Honorarium for Late Cancellation of a Prehearing Conference
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change Relating to Eliminate the Fee for an Explained Decision
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Filing Relating to Simplified Arbitration
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change Relating to Revisions to the Definition of Non-public Arbitrator.
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change to Amend the Customer And Industry Codes to Expedite List Selection in Arbitration
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change Relating to Broadening Chairperson Eligibility in Arbitration
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change Relating to Motions to Dismiss in Arbitration
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Relating to use of the Dispute Resolution Party Portal in Arbitration and Mediation
Effective
12.110 – Arbitration (incorporates FINRA Rule 12000 Series and Rule 13000 Series)
Proposed Rule Change Relating to the Panel Selection Process in Customer Cases with Three Arbitrators.
Effective