New FINRA Gift Rule Filed with SEC

The Financial Industry Regulatory Authority has filed with the Securities and Exchange Commission a notice of its proposal to adopt a new gift and entertainment rule.

The new regulation FINRA Rule 3220 (influencing or rewarding employees of others)—will replace the old NASD Rule 3060 and the New York Stock Exchange Rule 350, as FINRA consolidates its rulebook in the aftermath of the merger between NASD and NYSE’s regulatory arm.

The old rules prohibit broker-dealers from givin

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