The Financial Industry Regulatory Authority (FINRA) has requested comments on proposed Rule 2030, a new, stand-alone rule, that prohibits members from originating or circulating any rumor about a security which the member knows or has reasonable grounds to believe is false and would improperly influence the market price of such security. FINRA is proposing that Rule 2030 retain the standard in Rule 6140(e) that a rumor not be originated or circulated if the member knows or has reasonable grounds for believing that the rumor is “false or misleading or would improperly influence the market price of such security.” FINRA is also proposing that Rule 2030 apply to all securities, not just those securities reported to the Consolidated Tape. The proposal does not include an NYSE exception for discussions of “unsubstantiated information published by a widely circulated public media,” as widely circulated rumors in the public media that would otherwise be covered by the rule are not of any less concern in terms of the market integrity concerns related to such rumors.

Comments are due by December 18.

http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p117413.pdf