As part of its FINRA360 initiative, the Financial Industry Regulatory Authority issued three requests for comments Wednesday on the capital formation process, proposed amendments to rules for underwriting arrangements and a proposed safe harbor from equity and debt research rules for desk commentary.
All three proposals seek to clarify the requirements for FINRA member firms engaged in the capital formation process.
Regulatory Notice 17-14 seeks comment on all of FINRA’s existing rules, operations and administrative processes that address the capital-raising activities of its member firms, including recent additions regarding capital acquisition brokers and funding portals.
Regulatory Notice 17-15, requests comment on proposed amendments to modernize, simplify and clarify FINRA Rule 5110. The rule applies to underwriting terms and arrangements regarding the public offering of securities.