BOX Exchange Aligns Gift Rules With FINRA Standards
Published Date: 7/23/2026
Notice
Summary
BOX Exchange is updating its rule about gifts and gratuities to match FINRA’s similar rule, making things clearer and consistent for everyone involved. This change mainly affects brokers and firms who need to follow these rules when giving or receiving gifts. The new rule is set to take effect soon, helping avoid confusion and keep the money game fair and square.
Analyzed Economic Effects
7 provisions identified: 5 benefits, 2 costs, 0 mixed.
Rule aligned for 17d-2 incorporation
By adopting text substantially similar to FINRA Rule 3220, the Exchange proposes to make Rule 3060 eligible for inclusion in the parties' Rule 17d-2 agreement so FINRA will have regulatory responsibility for this rule with respect to common members. The Exchange says this will reduce duplicative regulation for members that belong to both organizations.
Gift limit raised to $300/year
If you are a BOX Participant or broker, the rule would prohibit gifts related to the employer's business that exceed $300 per individual per year. This replaces the Exchange's prior limits (which prohibited gifts over $50 to Exchange employees and over $100 to other employees).
New separate gift recordkeeping
The rule would require each Participant to keep a separate record of all gifts or gratuities and retain those records for the period specified by Exchange Act Rule 17a-4. You must keep records of payments or gratuities and the employment agreements identified by the rule.
Employment-contract payments excluded
Payments made under bona fide, written employment contracts are excluded from the rule. The written agreement must exist before employment or services are rendered and must state the nature of employment, amount of compensation, and include the written consent of the person's employer or principal.
Exchange staff can grant exemptions
Exchange staff may, for good cause shown and after considering relevant factors, grant conditional or unconditional exemptions from any provision of Rule 3060 if consistent with the rule's purpose, investor protection, and the public interest.
Codifies FINRA gift guidance (IM-3060-1)
The Exchange would adopt IM-3060-1 to codify FINRA Supplementary Materials 3220.01–3220.09, covering items like gifts incidental to business entertainment, valuation and aggregation of gifts, personal and bereavement gifts, de minimis/promotional items, disaster donations, supervision and recordkeeping, and gifts to associated persons or retail customers.
Applies equally to Exchange-only Participants
The Exchange states that amended Rule 3060 would apply equally to Exchange-only Participants, meaning firms that are only members of BOX (not FINRA) would be subject to the same prohibitions, recordkeeping, and exemptions in the rule.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-18424, Political Contributions by Certain Investment Advisers
The Securities and Exchange Commission (the "Commission" or the "SEC") is proposing to rescind the political contribution rule under the Investment Advisers Act of 1940 (the "Advisers Act"), which prohibits investment advisers from providing investment advisory services for compensation to a government client for two years after an adviser or any covered associate of the adviser makes a contribution to certain categories of elected officials or candidates, among other prohibitions. In the more than fifteen years since the rule was adopted, implementation challenges associated with the political contribution rule have resulted in a range of significant unintended consequences, including compliance practices among some investment advisers that may have had the effect of restricting all political contributions by the investment advisers and their employees. Market participants also have stated that the political contribution rule is burdensome, complex, and both lacks clarity and creates a de facto strict liability standard. The Commission is of the view that other existing requirements of the Advisers Act and its associated rules, including prohibitions on fraud, fiduciary duty requirements, the compliance rule, and the code of ethics rule (defined below), are likely sufficient to address pay-to-play practices while allowing an adviser the flexibility to implement an approach that is more appropriately tailored to its particular risks, rendering the political contribution rule unnecessary. The Commission also is proposing to amend the rule under the Advisers Act pertaining to books and records consistent with the proposed rescission.
2026-18190, Transfer Agent Rules
The U.S. Securities and Exchange Commission ("SEC" or "Commission") is proposing to adopt new rules, amend existing rules, amend the existing form for registration with the Commission as a transfer agent (Form TA-1) and the existing form for reporting activities of transfer agents (Form TA-2), and rescind an existing rule governing registered transfer agents. The proposals are designed to modernize the rules governing registered transfer agents.
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
Previous / Next Documents
Previous: 2026-14855, Intent To Request Extension From OMB of One Current Public Collection of Information: Transportation Security Officer Medical Questionnaire
The TSA is asking to keep using its medical questionnaire for Transportation Security Officer (TSO) candidates to make sure they’re fit for the job. They want to extend this paperwork approval and are inviting the public to share thoughts by September 21, 2026. This won’t cost extra money but helps keep airport security strong and safe!
Next: 2026-14857, Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Connectivity Fee Schedule
NYSE Arca is updating its connectivity fee schedule to include a new data feed called MX2 Options. This change affects users who connect to third-party market data at the Mahwah data center and may impact their fees starting immediately. If you use these services, keep an eye on your connection options and costs!