SEC Approves FINRA Rule Change Regarding Temporary and Permanent Cease-and-Desist Orders (Fed. Reg.)

The SEC approval of FINRA rule changes that govern temporary and permanent cease-and-desist orders was published in the Federal Register. Specifically, the proposal would amend FINRA Rule Series 9100, 9200, 9300, 9550 and 9800 to:

• modify the evidentiary standard that must be met to impose a temporary cease-and-desist order;
• adopt a new expedited proceeding for addressing repeated failures to comply with temporary or permanent cease-and-desist orders;
• ease administrative burdens in temporary cease-and-desist proceedings;
• harmonize the provisions governing how documents are served in temporary cease-and-desist proceedings and expedited proceedings;
• clarify the process for issuing permanent cease-and-desist orders; and
• conform changes throughout FINRA's Code of Procedure.

See: 80 FR 48379.Related news: FINRA Proposes Rule Change Regarding Temporary and Permanent Cease-and-Desist Orders (Fed. Reg.) (July 7, 2015); FINRA Proposes to Amend Rules Regarding Temporary and Permanent Cease-and-Desist Orders (June 17, 2015).