Finra provides more granular interpretation of suitability rule
Finra has issued a regulatory notice responding to questions about its 2010 suitability rule
The US Financial Industry Regulatory Authority (Finra) has responded to requests for more guidance on investor suitability, updating the advice it published in 2010. Laying down its final statement of intent, Finra's May 2012 Regulatory Notice provides a more granular interpretation of the approved rules, though the regulator falls short of specifying exactly what institutions need to do to abide by it, according to industry participants.
"Finra is trying to be responsive to the industry
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