FINRA Proposes Delaying Implementation of Debt Research Rule (Fed. Reg.)
Commentary by Steven Lofchie
FINRA submitted a proposal to the SEC to delay the implementation of FINRA Rule 2242 ("Debt Research Analysts and Debt Research Reports") until July 16, 2016. The requested delay is a response to questions from the industry regarding the implementation of the proposed rule requirements. FINRA stated that it did not intend to make any substantive changes to the rule based on received comments.
Comments on the proposed delay must be submitted by May 24, 2016.
Commentary
This is the second time that FINRA delayed the implementation of the Debt Research Rule. The delay suggests that firms are facing challenges as they address the requirements of the Rule.
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