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.
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