FINRA Updates Options Rules, Requiring Firms to Modify Compliance and Supervisory Policies and Procedures
Client Memorandum

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The Financial Industry Regulatory Authority, Inc. (“FINRA”) has recently made, and proposed, a number of changes to the National Association of Securities Dealers, Inc.’s (“NASD”) rules concerning options. Although these changes will generally promote operational flexibility and reduce redundancy in the design of supervisory programs, they will require significant amendments to firms’ options compliance and supervisory procedures.