FINRA Requests Comment on a Proposed Rule Set for Limited Corporate Financing Brokers

March 6, 2014

On February 26, 2014, the Financial Industry Regulatory Authority, Inc. (“FINRA”) solicited comments on a proposed streamlined rule set for limited corporate financing brokers (“LCFBs”), who engage in a limited range of brokerage activities, including advising companies and private equity funds on capital raising, mergers and acquisitions and corporate restructurings and soliciting potential institutional investors. FINRA requested comment on all aspects of the proposal, including whether the proposed rule set appropriately accommodates the scope of LCFB business and whether other accommodations are necessary. The attached memo summarizes the key components of FINRA’s proposed rule set for LCFBs.

FINRA Regulatory Notice 14-09, announcing the proposed rule set for limited corporate financing brokers, may be may be accessed here.

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