Equity Dealers of America filed a comment letter with FINRA supporting its proposed amendment to Rule 2210
“Today the Equity Dealers of America filed a comment letter with FINRA supporting its proposed amendment to Rule 2210. Two highlights from the letter are set forth below:
“Providing registered representatives (“RR”) of EDA members with the flexibility to use the Illustration with their clients when discussing asset allocation and investment strategies as set forth in the Regulatory Notice 17-06, even if we ultimately decide not to use it, would place our members on a level playing field with stand-alone investment advisor’s that are not subject to the existing FINRA prohibition”
“We believe that the proposed amendment is a common-sense way to make certain that FINRA regulations do not inadvertently create an incentive for clients to choose one business model over another”
Click here, to read the letter.