FINRA proposes to adopt these new, rules for its Consolidated Rulebook:  Rule 4150, Guarantees by, or Flow Through Benefits for, Members;  Rule 4311,  Carrying Agreements;  Rule 4522, Periodic Security Counts, Verifications and Comparisons;  and, Rule 4523, Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts.

In turn, FINRA would delete NASD Rule 3230, NYSE Rules 322, 382, 440.10 and 440.20, and NYSE Rule Interpretations 382/01 through 382/05, 409(a)/01 and 440.20/01. 

Many of the requirements set forth in the proposed rules are substantially the same as requirements found in current rules and, where appropriate, are tiered to apply only to carrying or clearing firms, or to firms that engage in certain specified activities.

The proposed rules would, in combination with the new consolidated financial responsibility rules that the SEC has approved, enhance FINRA’s authority to execute effectively its financial and operational surveillance and examination programs.  Certain of the proposed rule provisions are new for FINRA members that are not Dual Members (“non-NYSE members”).  Certain other provisions are new for both Dual Members and non-NYSE members alike.   For further details, refer to:  [FINRA Rule Filing 10-61, 11/12]