Regulatory Notice 14-30

SEC Approves Amendments to FINRA Rule 2210 to Exclude Research Reports on Exchange-Listed Securities From Filing Requirements and Clarify the Standards Applicable to Free Writing Prospectuses

Effective Date: July 11, 2014

Executive Summary

The SEC has approved amendments to FINRA Rule 2210 (Communications with the Public) that: (i) exclude from Rule 2210’s filing requirements research reports concerning only securities listed on a national securities exchange, other than research reports which must be filed pursuant to Section 24(b) of the Investment Company Act of 1940 and (ii) clarify that free writing prospectuses that are exempt from filing with the SEC are not subject to Rule 2210’s filing or content standards. The amendments are effective immediately.

The text of the rule amendments is set forth in Attachment A.

Questions concerning this Notice should be directed to:

• Joseph P. Savage, Vice President and Counsel, Regulatory Policy, at (240) 386-4534; or
• Philip Shaikun, Vice President and Associate General Counsel, Office of General Counsel, at (202) 728-8451.