In order to evaluate whether any amendments to its rules, operations and administrative processes might enhance the capital raising process in the United States while continuing to promote investor protection, the Financial Industry Regulatory Authority solicited comments on all its rules impacting capital formation. In addition, FINRA sought feedback regarding specific proposed amendments to its rule dealing with underwriting terms and arrangements in order to “simplify and clarify its provisions” (click here to access FINRA Rule 5110) and certain of its research rules to authorize a limited safe harbor to permit desk commentary to be provided to institutional investors without being subject to restrictions pertaining to research reports and debt research reports (click here to access FINRA Rules 2241 and 2242). Comments on all these FINRA matters will be accepted through May 30. In testimony before the Senate Committee on Banking, Housing and Urban Affairs last month, SEC chairman nominee Jay Clayton indicated that helping capital formation by US companies would be a priority for him if confirmed as chairman by the full Senate. (Click here for background in the article, "SEC Chairman Nominee Urges Making US Capital Markets Great Again" in the March 26, 2017 edition of Bridging the Week.)