Exam Alert: FINRA adopts, modifies private placement rules

Effective December 3, 2012, FINRA will adopt a new rule regarding private placements. The rule requires that firms that sell securities in a private placement must file any offering documents used within 15 days of the date of the first sale, or indicate that the firm did not use any offering documents. Continue reading

Effective December 3, 2012, FINRA will adopt a new rule regarding private placements.  The rule requires that firms that sell securities in a private placement must file any offering documents used within 15 days of the date of the first sale, or indicate that the firm did not use any offering documents.  The documents must be filed electronically through the FINRA Firm Gateway.

FINRA will also modify a rule regarding private placements.  This change, also effective December 3, 2012, requires firms to submit filings regarding member firm private offerings through the Firm Gateway.

Source: FINRA Regulatory Notice 12-40

This alert applies to the Series 79, Series 62, Series 24, Series 7, and Series 82.

Leave a Reply

Your email address will not be published.