SEC Takes Extra Time on FINRA Trust Fund Rules
Published Date: 5/19/2026
Notice
Summary
FINRA wants to exempt certain collective trust funds from rules that limit buying and selling shares in new stock offerings. The SEC is taking extra time to review this change carefully before deciding. This affects investors using these trust funds and could impact how they participate in new stock sales, with a decision expected after May 25, 2026.
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Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Proposed Exemption for Collective Trust Funds
If you invest through certain collective trust funds (CTFs), FINRA filed a proposal on March 30, 2026 to exempt specified CTFs from FINRA Rules 5130 and 5131(b), which govern restrictions on buying/selling in initial equity public offerings and new-issue allocations. The proposal was published April 10, 2026, and the SEC set July 9, 2026 as the date to approve, disapprove, or institute proceedings on the proposal (the original 45-day review period ended May 25, 2026).
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