FINRA's Revised Rumor Rule

Law360, New York (June 5, 2009, 12:00 AM EDT) -- On June 1, 2009, the Financial Industry Regulatory Authority issued Notice 09-29 seeking comment on proposed FINRA Rule 2030, which deals with the circulation of rumors.

The new proposed Rule 2030 replaces a widely criticized earlier proposal, issued as Notice 08-68 on Nov. 18, 2008. The proposed rule is based on both FINRA Rule 6140(e) and NYSE Rule 435(5) and, if approved, will replace these rules, as well as related interpretive guidance.[1]

Aside from minor wording changes, the body of the new proposed rule is essentially...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.