The Financial Industry Regulatory Authority has proposed to amend its options rule, FINRA Rule 2360. The proposed rule change would establish higher position limits for options on selected exchange-traded funds (ETFs) in order to ensure consistency with the position limits for those ETFs under the rules of the Chicago Board Options Exchange, the International Securities Exchange, NASDAQ OMX PHLX, NYSE Amex, NYSE Arca and the Boston Options Exchange. FINRA’s proposed rule change would also clarify (i) the application of position limits to conventional options on ETFs, and (ii) the appropriate registration qualifications for accepting and reviewing the acceptance of options discretionary accounts (i.e., the Series 4 or Series 9/10 for accepting such accounts and the Series 4 for reviewing such acceptance). In the filing made with the Securities and Exchange Commission relative to the proposed rule change, FINRA requested that the proposed amendments take effect immediately.  

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