A Review Of FINRA Rule 5123

Law360, New York (July 20, 2012, 12:55 PM EDT) -- On June 7, 2012, after accepting two more amendments from the Financial Industry Regulatory Authority, the U.S. Securities and Exchange Commission approved FINRA Rule 5123 (“Private Placements of Securities”).[1] Although the final rule is substantially narrower than FINRA’s original proposal, it will still impose some new requirements on broker-dealers selling private placements.


In January 2011, FINRA proposed an amendment to Rule 5122 to extend its reach beyond private placements of securities issued by the broker-dealer to nearly all private placements sold by broker-dealers [FINRA Proposes...
To view the full article, register now.