The Financial Industry Regulatory Authority is requesting comment on a proposed FINRA rule regarding the regulation of members’ activities in connection with the sale and distribution of registered investment company securities. Proposed FINRA Rule 2341 is based largely on National Association of Securities Dealers’ Rule 2830. The proposed rule modifies certain disclosure requirements regarding the receipt of cash compensation, revises certain recordkeeping requirements for non-cash compensation, eliminates the condition that discounted sales of investment company securities to broker-dealers be in conformance with NASD Rule 2040 (regarding dealing with non-members), and, consistent with Securities and Exchange Commission exemptive orders, codifies past FINRA staff interpretations allowing firms to purchase and sell exchange-traded funds at prices other than the current net asset value. Comments must be received by FINRA by August 3. Click here to read Regulatory Notice 09-34.