New Consolidated Supervision Rules, Part II: FINRA Rules 3120, 3150 and 3170

In last week’s blog post, Core Compliance’s Compliance Corner outlined the five (5) primary sections of the Financial Industry Regulatory Authority (“FINRA”) Rule 3110, recently approved by the Securities and Exchange Commission (“SEC”). One of the four (4) new consolidated rules for Supervision and Supervisory Control Systems, FINRA Rule 3110 has been approved alongside new Rules 3120, 3150, and 3170, all of which will go into effect on December 1, 2014. In this week’s blog, Core Compliance will discuss Rules 3120, 3150, and 3170 and their subsections.

While FINRA Rule 3110 and its subsections create a detailed set of Supervision regulations, Rules 3120, 3150, and 3170 are significantly more precise in scope and focus, dealing with the internal operation of Supervisory Control Systems. The three (3) Rules are as follows:

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