The Securities and Exchange Commission has approved the Financial Industry Regulatory Authority's plan to increase the value limit on gifts by a registered person to $300 from $100 per recipient per year.
The SEC's approval was filed Wednesday in the Federal Register. The changes will become effective on March 30, according to a regulatory notice.
FINRA said last in December that it given the SEC until Feb. 12 to decided whether to approve the boost. FINRA filed the extension on Dec. 2.
FINRA filed in late September an amended rule change with the SEC to increase the value limit on gifts by a registered person.
The broker-dealer self-regulator said in June that it would raise the limit to $250, but was swayed by industry feedback. The $100 limit had been in place since 1992.
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