The Financial Industry Regulatory Authority proposed amendments to existing rules to permit an increase in the value of gifts persons associated with a member may give in connection with the securities business of the member from $100 to $175/annually, as well some revised related recordkeeping requirements. FINRA claimed that such increase was justified as a result of the impact of inflation on the $100 limit that was first adopted in 1992. FINRA also proposed to extend its restrictions on members and their associates making or receiving non-cash compensation (with some exceptions) solely in connection with the sale of certain enumerated products to all securities, and to require all members to adopt written polices and supervisory procedures related to business entertainment to avoid activity “that is intended to, or could reasonably be perceived as intended as, an improper quid pro quo.” FINRA will accept comments on its new proposals through September 23, 2016.