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Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order Approving a Proposed Rule Change, as Modified by Partial Amendment No. 1, To Adopt FINRA Rule 3290 (Outside Activities Requirements)
Plain English Summary
The Financial Industry Regulatory Authority (FINRA) has approved a new rule that affects financial professionals, including insurance agents. This rule, known as Rule 3290, sets out requirements for outside activities that these professionals can engage in while working in the financial industry. It aims to clarify what types of activities are allowed and to ensure that agents do not engage in activities that could conflict with their primary responsibilities. Agents should review the new rule to understand how it may impact their outside work and ensure compliance.
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not have familiarity, such as transactions in non-securities <span class="match">insurance</span> or banking products.
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Another commenter suggested narrowing the proposed definition to exclude fundraising for non-profit organizations and the receipt of residual <span class="match">insurance</span> commissions.
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LPL I at 3.
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CAI at 3.
With respect to clarifying the proposed definition, one commenter requested guidance regarding the scope of categories such as banking, <span class="match">insurance</span>, and real estate.
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Another commenter requested guidance