Effective Date – New FINRA Rules for Cease & Desist Orders

The SEC approved amendments to FINRA rules for Cease & Desist Orders.  The new rules and amendments lower the evidentiary standard to impose a temporary cease and desist order (TCDO); created a new expedited proceeding for repeated failures to comply with a TCDO or a permanent cease and desist order (PCDO); harmonized the provisions governing how documents are served in temporary cease and desist and expedited proceedings; clarified FINRA’s authority to impose a PCDO; and ease FINRA’s administrative burden in temporary cease and desist proceedings. The amendments become effective on November 2, 2015.

For more information and to review Regulatory Notice 15-35, click here.