FINRA Simplifies Investment Math: Wall Street's Snooze Button
Published Date: 9/9/2026
Notice
Summary
No summary available.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Monthly Statements Excepted for Certain Private Funds
FINRA proposes to amend Rule 4522 to except "uncertificated investments in unregistered investment funds" from the requirement to receive position statements at least once per month when ownership is directly recorded on the issuer's ownership registry or directly recognized by the issuer. For those excepted investments, firms would instead reconcile at least once per quarter, while still complying with the SEC's quarterly count and verification requirements.
May Expand Access to Alternative Investments
FINRA says the proposed exception may encourage member firms to offer more alternative, uncertificated private-fund investments to customers, potentially expanding investment options and portfolio diversification for investors. FINRA also notes it understands owners of these products are mostly large institutional investors.
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