Co-authored by Tanja Samardzija.
As reported in the October 21, 2011 edition of Corporate & Financial Weekly Digest, the Financial Industry Regulatory Authority (FINRA) proposed a rule change to adopt NASD Rule 2320 (Best Execution and Interpositioning) and Interpretive Material 2320 (Interpretive Guidance with Respect to Best Execution Requirements) as FINRA Rule 5310 in the consolidated FINRA rulebook. Subsequently, the Securities and Exchange Commission issued an order granting approval of the proposed rule change. FINRA has issued a Regulatory Notice announcing that FINRA Rule 5310 will become effective on May 31, 2012. The Regulatory Notice also states that FINRA Rule 6438 (Displaying Priced Quotations in Multiple Quotation Mediums) will become effective on May 31, 2012.