On Oct. 9, 2026, FINRA reported amendments will be effective on Nov. 16, 2026.
On Jul. 9, FINRA proposed amending advisor order approval exceptions
FINRA proposed to amend FINRA Rules (FINRA Rule 4515.01) to expand the current exception from principal approval requirements to apply to all allocations of bulk investment adviser orders.
Order Allocations
Members not required to obtain principal approval for account name or designation changes re IA bulk orders provided that member receives allocation instructions at the end of the trade.
Prohibits members from knowingly facilitating allocation of orders from IAs other than for compliance with IA’s intent at the time of trade or execution to allocate shares.
FINRA believes the proposed rule change is appropriate given the technological advances and increased use of straight-through processing STP in trade processing.
Effectiveness
Comments must submitted on or before 21 days from publication in federal register.
Jul. 16, 2026 SEC Proposal
On Jul. 16, 2026, SEC issued notice of FINRA proposal for 21-day comment period.
Jul. 21, 2026 Fed Reg Proposal
On Jul. 21, 2026, SEC published proposal in federal register, comments Aug. 11, 2026.
Sep. 2026 SEC Approval
On Sep. 2, 2026, SEC issued order approving FINRA's proposed rule change.
Sep. 8, 2026 SEC Fed Reg Approval
On Sep. 8, 2026, SEC published order approving rule change in the federal register.
Oct. 9, 2026 FINRA Effectiveness
On Oct. 9, 2026, FINRA reported amendments will be effective on Nov. 16, 2026.
