On December 10th, the Financial Industry Regulatory Authority provided additional guidance on its suitability rule, FINRA Rule 2111, which became effective on July 9, 2012. In May 2012, FINRA issued Regulatory Notice 12-25, which provides guidance on the rule in a "frequently asked questions" format. The instant Notice addresses two issues discussed in Regulatory Notice 12-25, the scope of the terms "customer" and "investment strategy." FINRA Regulatory Notice 12-55.