FINRA will rework proposal for disclosure link

04/25/2013 | Reuters

The Financial Industry Regulatory Authority is withdrawing a proposed rule that would force brokerages to include a link to FINRA's "BrokerCheck" database on their websites. FINRA plans to revise the proposal before resubmitting it to the Securities and Exchange Commission. "We withdrew the filing in order to give further consideration to the comments received in response to the SEC's publication of the proposed rule change," FINRA said. As written, the rule was "unworkable," says Melissa MacGregor, associate general counsel at SIFMA, which plans to continue to work with FINRA on the rule. Read SIFMA's comments to FINRA.

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