2024-15910. Program for Allocation of Regulatory Responsibilities Pursuant to Rule 17d-2; Notice of Filing and Order Approving and Declaring Effective an Amended Plan for the Allocation of Regulatory Responsibilities Between the Financial Industry ...

BX rule	Nasdaq rule	FINRA rule (s), exchange action provision(s), or SEA rule(s)
General 2, Section 15. Business Continuity Plans and General 2 , Section 16. Emergency Contact Information  #	General 2, Section 15. Business Continuity Plans and General 2, Section 16. Emergency Contact Information  #	4370. Business Continuity Plans and Emergency Contact Information.
General 2, Section 10. Executive Representative; General 2, Section 11. Contact Information Requirements  #	General 2, Section 10. Executive Representative; General 2, Section 11. Contact Information Requirements  #	4517. Member Filing and Contact Information Requirements.
General 3, Rule 1002(b) Qualifications of Exchange Members and Associated Persons; Registration of Branch Offices and Designation of Office of Supervisory Jurisdiction #	General 3, Rule 1002(b) Qualifications of Exchange Members and Associated Persons; Registration of Branch Offices and Designation of Office of Supervisory Jurisdiction #	FINRA Bylaws Article III, Sec. 1.
General 3, Rule 1002(d). Registration of Branch Offices and Designation of Office of Supervisory Jurisdiction #	General 3, Rule 1002(d). Registration of Branch Offices and Designation of Office of Supervisory Jurisdiction #	3110(a)(3) Supervision and SM .01 and .02 Supervision* and FINRA By-Laws Article IV, Sec. 8.
General 3, 1012(c)(1). Duty to Ensure the Accuracy, Completeness, and Current Nature of Membership Information Filed with the Exchange #	General 3, Rule 1012(c)(1). Duty to Ensure the Accuracy, Completeness, and Current Nature of Membership Information Filed with the Exchange #	1122. Filing of Misleading Information as to Membership or Registration; FINRA Bylaws Article IV, [s] S ec. 1(c) of the By-Laws.
General 4, Section 1, 1210. Registration Requirements #	General 4, Section 1, 1210. Registration Requirements #	1210. Registration Requirements.
General 4, Section 1, 1220. Registration Categories 1#	General 4, Section 1, 1220. Registration Categories 2 [1]#	1220. Registration Categories.
General 4, Section 1, 1220.06. Eliminated Registration Categories 1	General 4, Section 1, 1220.06. Eliminated Registration Categories	1220.06. Eliminated Registration Categories.
General 4, Section 1, Rule 1230(1) (2)(D) Associated Persons Exempt from Registration #	General 4, Section 1, Rule 1230(1)-(2)(D) Associated Persons Exempt from Registration #	1230. Associated Persons Exempt from Registration.
General 4, Section 1, 1240. Continuing Education Requirements	General 4, Section 1, 1240. Continuing Education Requirements 3	1240. Continuing Education Requirements.
General 4, Section 1, 1250. Electronic Filing Requirements for Uniform Forms #	General 4, Section 1, 1250. Electronic Filing Requirements for Uniform Forms #	1010. Electronic Filing Requirements for Uniform Forms and FINRA Bylaws Article V, Section 2.
[Equity 5, Section 1. Definitions]	[Equity 5, Section 1. Definitions]	[7410. Definitions].
[Equity 5, Section 2. Applicability]	[Equity 5, Section 2. Applicability]	[7420. Applicability].
[Equity 5, Section 3. Synchronization of Member Business Clocks]	[Equity 5, Section 3. Synchronization of Member Business Clocks]	[7430. Synchronization of Member Business Clocks].
[Equity 5, Section 4. Recording of Order Information]	[Equity 5, Section 4. Recording of Order Information]	[7440. Recording of Order Information].
[Equity 5, Section 5. Order Data Transmission Requirements]	[Equity 5, Section 5. Order Data Transmission Requirements]	[7450. Order Data Transmission Requirements].
[Equity 5, Section 6. Violation of Order Audit Trail System Rules]	[Equity 5, Section 6. Violation of Order Audit Trail System Rules]	[7460. Violation of Order Audit Trail System Rules].
General 9, Section 1(a). Standards of Commercial Honor and Principles of Trade	General 9, Section 1(a). Standards of Commercial Honor and Principles of Trade	2010. Standards of Commercial Honor and Principles of Trade.*
General 9, Section 1(b). Prohibition Against Trading Ahead of Customer Orders	General 9, Section 1(b). Prohibition Against Trading Ahead of Customer Orders	5320. Prohibition Against Trading Ahead of Customer Orders.**
General 9, Section 1(c). Front Running Policy	General 9, Section 1(c). Front Running Policy	5270. Front Running of Block Transactions.**
General 9, Section 1(d). Trading Ahead of Research Reports	General 9, Section 1(d). Trading Ahead of Research Reports	5280. Trading Ahead of Research Reports.**
General 9, Section 1(e). Anti-Intimidation/Coordination	General 9, Section 1(e). Anti-Intimidation/Coordination	5240. Anti-Intimidation/Coordination.
General 9, Section 1(f). Confirmation of Callable Common Stock	General 9, Section 1(f). Confirmation of Callable Common Stock	2232. Customer Confirmations.
General 9, Section 1(g). Interfering With the Transfer of Customer Accounts in the Context of Employment Disputes	General 9, Section 1(h). Interfering With the Transfer of Customer Accounts in the Context of Employment Disputes	2140. Interfering With the Transfer of Customer Accounts in the Context of Employment Disputes.
General 9, Section 1[(i)] (h). Use of Manipulative, Deceptive or Other Fraudulent Devices	General 9, Section 1(g). Use of Manipulative, Deceptive or Other Fraudulent Devices	2020. Use of Manipulative, Deceptive or Other Fraudulent Devices.*
General 9, Section 2. Customers' Securities or Funds	General 9, Section 2. Customers' Securities or Funds	2150. Improper Use of Customers' Securities or Funds; Prohibition Against Guarantees and Sharing in Accounts.
General 9, Section 3. Communications with the Public	General 9, Section 3. Communications with the Public	2210. Communications with the Public.
General 9, Section 5. Telemarketing	General 9, Section 5. Telemarketing	3230. Telemarketing.
General 9, Section 6. Forwarding of Proxy and Other Issuer-Related Materials	General 9, Section 6. Forwarding of Proxy and Other Issuer-Related Materials	2251. Processing and Forwarding of Proxy and Other Issuer-Related Materials.
General 9, Section 7(a). Disclosure of Financial Condition	General 9, Section 7(a). Disclosure of Financial Condition	2261. Disclosure of Financial Condition.
General 9, Section 7(b). Disclosure of Control Relationship with Issuer	General 9, Section 7(b). Disclosure of Control Relationship with Issuer	2262. Disclosure of Control Relationship with Issuer.'
General 9, Section 7(c). Disclosure of Participation or Interest in Primary or Secondary Distribution	General 9, Section 7(c). Disclosure of Participation or Interest in Primary or Secondary Distribution	2269. Disclosure of Participation or Interest in Primary or Secondary Distribution.
General 9, Section 8. SIPC Information	General 9, Section 8. SIPC Information	2266. SIPC Information.
General 9, Section 9. Fairness Opinions	General 9, Section 9. Fairness Opinions	5150. Fairness Opinions.
General 9, Section 10 Recommendations to Customers (Suitability)	General 9, Section 10. Recommendations to Customers (Suitability)	2111. Suitability.
General 9, Section 11. Best Execution and Interpositioning	General 9, Section 11. Best Execution and Interpositioning	5310. Best Execution and Interpositioning.**
General 9, Section 12. Customer Account Statements	General 9, Section 12. Customer Account Statements	2231. Customer Account Statements.
General 9, Section 13. Margin Disclosure Statement	General 9, Section 13. Margin Disclosure Statement	2264. Margin Disclosure Statement.
General 9, Section 14. Approval Procedures for Day-Trading Accounts	General 9, Section 14. Approval Procedures for Day-Trading Accounts	2130. Approval Procedures for Day-Trading Accounts and Rule 2270 Day-Trading Risk Disclosure Statement.
General 9, Section 15. Borrowing From or Lending to Customers	General 9, Section 15. Borrowing From or Lending to Customers	3240. Borrowing From or Lending to Customers.
General 9, Section 16. Charges for Services Performed	General 9, Section 16. Charges for Services Performed	2122. Charges for Services Performed.
General 9, Section 18. Payments for Market Making	General 9, Section 18. Payments for Market Making	5250. Payments for Market Making.
General 9, Section 19. Discretionary Accounts	General 9, Section 19. Discretionary Accounts	3260. Discretionary Accounts.
General 9, Section 20. Supervision	General 9, Section 20. Supervision	3110. Supervision.
General 9, Section 21(a). Supervisory Control System, Annual Certification of Compliance and Supervisory Processes	General 9, Section 21(a). Supervisory Control System, Annual Certification of Compliance and Supervisory Processes	3120. Supervisory Control System.
General 9, Section 21(c). Supervisory Control System, Annual Certification of Compliance and Supervisory Processes	General 9, Section 21(c). Supervisory Control System, Annual Certification of Compliance and Supervisory Processes	3130. Annual Certification of Compliance and Supervisory Processes.
General 9, Section 23. Outside Business Activities of an Associated Person	General 9, Section 23. Outside Business Activities of an Associated Person	3270. Outside Business Activities of an Associated Person.
General 9, Section 24. Private Securities Transactions of an Associated Person	General 9, Section 24. Private Securities Transactions of an Associated Person	3280. Private Securities Transactions of an Associated Person.
General 9, Section 25. Transactions for or by Associated Persons	General 9, Section 25. Transactions for or by Associated Persons	3210. Accounts at Other Broker-Dealers and Financial Institutions.
General 9, Section 26. Influencing or Rewarding Employees of Others	General 9, Section 26. Influencing or Rewarding Employees of Others	3220. Influencing or Rewarding Employees of Others.
General 9, Section 27. Reporting Requirements #	General 9, Section 27. Reporting Requirements #	4530. Reporting Requirements.
General 9, Section 28. Disclosure to Associated Persons When Signing Form U-4	General 9, Section 28. Disclosure to Associated Persons When Signing Form U-4	2263. Arbitration Disclosure to Associated Persons When Signing or Acknowledging Form U-4.
General 9, Section 30. Books and Records, Section 43. General Requirements	General 9, Section 30. Books and Records, Section 43. General Requirements	4511. General Requirements.
General 9, Section 31. Use of Information Obtained in Fiduciary Capacity	General 9, Section 31. Use of Information Obtained in Fiduciary Capacity	2060. Use of Information Obtained in Fiduciary Capacity.
General 9, Section 37. Anti-Money Laundering Compliance Program	General 9, Section 37. Anti-Money Laundering Compliance Program	3310. Anti-Money Laundering Compliance Program.
General 9, Section 39. Fidelity Bonds	General 9, Section 39. Fidelity Bonds	4360. Fidelity Bonds.
[General 9, Section 30. Books and Records, (d) Record of Written Complaints; (e) “Complaint” Defined] General 9, Section 44. Records of Written Customer Complaints	General 9, Section 44. Records of Written Customer Complaints	4513. Records of Written Customer Complaints.
[General 9, Section 30. Books and Records, (b) Customer Account Information] General 9, Section 45. Customer Account Information	General 9, Section 45. Customer Account Information	4512. Customer Account Information.
[General 9, Section 30. Books and Records, (g) Negotiable Instruments Drawn From A Customer's Account] General 9, Section 46. Authorization Records for Negotiable Instruments Drawn From a Customer's Account	General 9, Section 46. Authorization Records for Negotiable Instruments Drawn From a Customer's Account	4514. Authorization Records for Negotiable Instruments Drawn From a Customer's Account.
[General 9, Section 30. Books and Records, (j) Changes in Account Name or Designation] General 9, Section 47. Approval and Documentation of Changes in Account Name or Designation	General 9, Section 47. Approval and Documentation of Changes in Account Name or Designation	4515. Approval and Documentation of Changes in Account Name or Designation.
General 9, Section 49. Payments Involving Publications that Influence the Market Price of a Security	General 9, Section 49. Payments Involving Publications that Influence the Market Price of a Security	5230. Payments Involving Publications that Influence the Market Price of a Security.
General 9, Section 50. Foreign Members #	General 9, Section 50. Foreign Members #	1021. Foreign Members.
General 9, Section 51. Research Analysts	General 9, Section 51. Research Analyst	2241. Research Analysts and Research Reports.
General 9, Section 71. Custodian of Books and Records	General 9, Section 71. Custodian of Books and Records	4570. Custodian of Books and Record, (a) Designation of Custodian.
Equity 2, Section 5(e). Locked and Crossed Markets	Equity 2, Section 5(e). Locked and Crossed Markets	FINRA Rule 6240. Prohibition from Locking or Crossing Quotations in NMS Stocks. **
Equity 9, Section 1 Adjustment of Open Orders	Equity 9, Section 1. Adjustment of Open Orders	5330. Adjustment of Orders.
Equity 9, Section 3. Publication of Transactions and Quotations	Equity 9, Section 3. Publication of Transactions and Quotations	5210. Publication of Transactions and Quotations.
Equity 9, Section 10. Prompt Receipt and Delivery of Securities	Equity 9, Section 10. Prompt Receipt and Delivery of Securities	11860(a)(4)(A). Purchases.
Equity 9, Section 11. Order Entry and Execution Practices  #	Equity 9, Section 11. Order Entry and Execution Practices  #	5290. Order Entry and Execution Practices.
Equity 10, Section 1. Direct Participation Programs	Equity 10, Section 1. Direct Participation Programs	2310. Direct Participation Programs.
Equity 10, Section 2. Investment Company Securities	Equity 10, Section 2. Investment Company Securities	2341. Investment Company Securities.
[2841. General] Equity 10, Section 3(a) Trading in Index Warrants, Currency Index Warrants, and Currency Warrants	Equity 10, Section 3(a). [General] Trading in Index Warrants, Currency Index Warrants, and Currency Warrants	2351(a). General Provisions Applicable to Trading in Index Warrants, Currency Index Warrants and Currency Warrants.
Equity 10, Section 4 Position Limits; 5 Exercise Limits; and 7 Liquidation of Index Warrant Positions	Equity 10, Section 4 Position Limits; 5 Exercise Limits; and 7 Liquidation of Index Warrant Positions	2357. Position and Exercise Limits; Liquidations.
Options 6E, Section 1. Maintenance, Retention and Furnishing of Books, Records and Other Information  #	Options 6E, Section 1. Maintenance, Retention and Furnishing of Books, Records and Other Information  #	4511(a). General Requirements.
Options 9, Section 9. Prevention of the Misuse of Material Nonpublic Information  #	Options 9, Section 9. Prevention of the Misuse of Material Nonpublic Information  #	Section 15(g) of the Securities Exchange Act of 1934, and 3110(b)(1), (d). Supervision.
Options 9, Section 10. Disciplinary Action by Other Organizations  #	Options 9, Section 10. Disciplinary Action by Other Organizations  #	4530(a)(1)(A) and (2). Reporting Requirements; FINRA By-Laws, Article V, Section 2(c); and FINRA By-Laws, Article V, Section 3.
Options 10, Section 12. Statements of Financial Condition to Public Customers	Options 10, Section 12. Statements of Financial Condition to Public Customers	SEA Rule 17a-5 [of the Securities Exchange Act of 1934].
Options 10, Section 19. Transfer of Accounts	Options 10, Section 19. Transfer of Accounts	11870. Customer Account Transfer Contracts.
Options 10 Section 23. Telephone Solicitation	Options 10 Section 23. Telephone Solicitation	3230. Telemarketing.
Equity 9, Section 15. Suitability	N/A	2353. Suitability.
Equity 9, Section 16. Discretionary Accounts	N/A	2354. Discretionary Accounts.
Equity 9, Section 17. Supervision of Accounts	N/A	2355. Supervision of Accounts.
Equity 9, Section 18. Customer Complaints	N/A	2356. Customer Complaints.
Equity 9, Section 19. Communications with the Public and Customers Concerning Index Warrants, Currency Index Warrants, and Currency Warrants	N/A	2357. Communications with the Public and Customers Concerning Index Warrants, Currency Index Warrants and Currency Warrants.
Equity 9, Section 20. Maintenance of Records	N/A	2358. Maintenance of Records.
1  FINRA shall only have Regulatory Responsibilities regarding BX General 4, Section 1220 to the extent that BX recognizes the same categories of limited principal and representative registration as the BX Rule, by incorporating Nasdaq General 4, Section 1220, does not recognize registration related to investment banking, research, government securities, investment company and variable contracts products, direct participation programs, private securities offerings, and operations professional.
2  FINRA shall only have Regulatory Responsibilities regarding Nasdaq General 4, Section 1220 to the extent that Nasdaq recognizes the same categories of limited principal and representative registration as Nasdaq General 4, Section 1220, does not recognize registration related to investment banking, research, government securities, investment company and variable contracts products, direct participation programs, private securities offerings, and operations professional.
3   FINRA Rule 1240.01 allows for eligible persons to make their election to participate in the continuing education program under Rule 1240(c) either (1) between January 31, 2022, and March 15, 2022; or (2) between March 15, 2023, and December 31, 2023. In contrast, Supplementary Material .01 of Nasdaq and BX General 4, Section 1, Rule 1240 allows for eligible persons to make their election to participate in the continuing education program under Nasdaq and BX General 4, Section 1(c) either (1) by March 15, 2022, or (2) between July 6, 2023, and December 31, 2023. Therefore, FINRA will not accept Regulatory Responsibilities for elections made under Supplementary Material .01 of Nasdaq or BX General 4, Section 1, Rule 1240 between March 16, 2023, and July 5, 2023.
The following provisions are covered by the Agreement between the Parties:
• SEC '34 Act Section 28(e)—Effect on Existing Law
• [SEC '34 Act] SEA Rule 10b-10—Confirmation of Transactions
• SEA Rule 200 of Regulation SHO—Definition of Short Sales and Marking Requirements **
• SEA Rule 201 of Regulation SHO—Circuit Breaker **
• [SEC '34 Act] SEA Rule 203 of Regulation SHO—Borrowing and Delivery Requirements
• SEA Rule 204 of Regulation SHO—Close-Out Requirements **
• SEA Rule 101 of Regulation M—Activities by Distribution Participants **
• SEA Rule 102 of Regulation M—Activities by Issuers and Selling Security Holders During a Distribution **
• SEA Rule 103 of Regulation M—Nasdaq Passive Market Making **
• SEA Rule 104 of Regulation M—Stabilizing and Other Activities in Connection with an Offering **
• SEA Rule 105 of Regulation M—Short Selling in Connection With a Public Offering **
• SEA Rule 604 of Regulation NMS—Display of Customer Limit Orders **
• [SEC '34 Act] SEA Rule 606 of Regulation NMS—Disclosure of Order Routing Information **
• [SEC '34 Act Rule 607 of Regulation NMS Customer Account Statements]
• SEA Rule 610(d) of Regulation NMS—Locking or Crossing Quotations **
• SEA Rule 611 of Regulation NMS—Order Protection Rule **
• SEA Rule 10b-5—Employment of Manipulative and Deceptive Devices *
• SEA Rule 17a-3/17a-4—Records to Be Made by Certain Exchange Members, Brokers and Dealers/Records to Be Preserved by Certain Exchange Members, Brokers and Dealers *
• SEA Rule 14e-4—Prohibited Transactions in Connection with Partial Tender Offers[^ ]
• SEA Rule 14e-4(a)(1)(ii)(D)—Prohibited Transactions in Connection with Partial Tender Offers (with a focus on the standardized call option provision) **
[‸  FINRA shall perform surveillance, investigation, and Enforcement Responsibilities for SEA Rule 14e-4(a)(1)(ii)(D).]
** In addition to performing examinations and Enforcement Responsibilities as provided in this Agreement for the double star rules, FINRA shall also perform the surveillance and investigation responsibilities for the double star rules. These rules may be cited by FINRA in both the context of this Agreement and the Regulatory Services Agreement among FINRA, Nasdaq and BX.
*FINRA shall not have any Regulatory Responsibilities for these rules as they pertain to violations of insider trading activities, which is covered by a separate 17d-2 Agreement by and among Cboe BZX Exchange, Inc., Cboe BYX Exchange, Inc., Chicago Stock Exchange, Inc., Cboe EDGA Exchange Inc., Cboe EDGX Exchange Inc., Financial Industry Regulatory Authority, Inc., MEMX, LLC, MIAX PEARL, LLC, Nasdaq BX, Inc., Nasdaq PHLX LLC, The Nasdaq Stock Market LLC, NYSE National, Inc., New York Stock Exchange, LLC, NYSE American LLC, NYSE Arca Inc., [and] Investors' Exchange LLC and the Long-Term Stock Exchange, Inc. as approved by the SEC on September 23, 2020, as may be amended from time to time.
‸   FINRA shall perform the surveillance and investigation responsibilities for these rules. The examination responsibility for these rules is covered by a separate 17d-2 Agreement by and among Cboe BZX Exchange, Inc., Cboe BYX Exchange, Inc., BOX Exchange LLC, Cboe Exchange, Inc., Cboe C2 Exchange, Inc., NYSE Chicago, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Financial Industry Regulatory Authority, Inc., MEMX LLC, Nasdaq ISE, LLC, Nasdaq GEMX, LLC, Nasdaq MRX, LLC, Investors Exchange LLC, Miami International Securities Exchange, LLC, MIAX PEARL, LLC, MIAX Emerald, LLC, The Nasdaq Stock Market LLC, Nasdaq BX, Inc., Nasdaq PHLX LLC, NYSE National, Inc., New York Stock Exchange LLC, NYSE American LLC, NYSE Arca, Inc. and Long-Term Stock Exchange, Inc. as approved by the SEC on June 10, 2020 concerning covered Regulation NMS and Consolidated Audit Trail Rules, as may be amended from time to time.