The New York Stock Exchange LLC filed with the Securities and Exchange Commission proposed rule changes to NYSE Rule 440A to address member organizations’ telephone solicitations of customers. Rule 440A(g) provides that “No member or member organization may use a telephone facsimile machine, computer or other device to send an unsolicited advertisement to a telephone facsimile machine, computer or other device.”

In addition to the existing exceptions contained in Rule 440A, the proposed amendment would provide that an advertisement would not be considered “unsolicited” where there is an “established business relationship” as defined in present Rule 440A(j). The proposed amendment also would set forth the measures necessary for a customer to opt out of the receipt of further communications from the member firm.