On November 2nd, the Financial Industry Regulatory Authority (“FINRA”) announced SEC approval of new FINRA Rule 5350 (Stop Orders), which replaces the stop order provisions of FINRA Rule 6140(h). The rule provides that any order labeled as a “stop order” or a “stop limit order” must be triggered based upon a transaction at the stop price, but permits firms to offer alternative order types with different triggers (e.g., a stop order triggered by a quotation at the stop price) so long as the order type is not labeled as a stop order and is clearly distinguishable from a stop order. FINRA Regulatory Notice 12-50.