IEX Tweaks Gift Rules to Match FINRA's Fine Print
Published Date: 11/10/2026
Notice
Summary
Investors Exchange LLC (IEX) is updating its rule about giving gifts or rewards to employees of other companies to match the Financial Industry Regulatory Authority’s (FINRA) rules. This change helps IEX and FINRA work together smoothly under a special agreement. The new rule is effective immediately and doesn’t affect any fees or costs for anyone involved.
Analyzed Economic Effects
4 provisions identified: 3 benefits, 0 costs, 1 mixed.
Gift Limit Raised to $300
IEX increases the annual gift limit you can give to any single outside employee from $100 to $300 per individual per year. The change matches FINRA's amended Rule 3220 and is intended to reflect inflation since 1992.
New Exceptions and Valuation Rules
IEX adopts new Supplementary Material mirroring FINRA that: excludes customary personal gifts for infrequent life events and bereavement gifts from the $300 limit; excludes de minimis/promotional items (e.g., pens, notepads, umbrellas) substantially below $300; excludes donations to individuals for federally declared major disasters; and clarifies valuation (value gifts at cost; event tickets at the higher of cost or face value) and aggregation rules (aggregate gifts from a Member and its associated persons to a recipient and state whether aggregation is calendar year, fiscal year, or rolling).
FINRA Can Grant Rule Exemptions
IEX adds a provision allowing FINRA, acting on IEX's behalf under Rule Series 9.600, to grant conditional or unconditional exemptions from any part of IEX Rule 3.291 for good cause, consistent with investor protection and the public interest.
Harmonized Rule to Reduce Duplicate Oversight
IEX is conforming Rule 3.291 to FINRA Rule 3220 so the rule can be incorporated into the IEX–FINRA Rule 17d-2 allocation agreement, which aims to reduce duplicative regulation for firms that are members of both organizations.
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
2026-21037, Investment Company Cross Trading
The SEC wants to update the rules for cross trading, which is when investment companies trade securities with their affiliates. They’re making more types of securities eligible, tightening rules to protect investors, and requiring better reporting of these trades. If you’re involved in investment companies, watch out for these changes and get your comments in by December 14, 2026!
2026-20466, Adviser and Regulated Fund Custody Rules; Crypto Custody Rules
The SEC is updating rules for how investment advisers and funds handle crypto assets, making sure they keep these digital investments safe and properly reported. These changes affect advisers, funds, and anyone managing crypto securities, aiming to modernize rules and improve transparency. Comments on the proposal are open until December 7, 2026, so get ready to weigh in!
2026-19260, Rescission of Rule 14a-8's Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4
The SEC wants to stop its federal rule that controls how shareholders can make proposals at company meetings, letting state laws and company rules take over instead. They’re also changing rules so companies can sometimes vote on proposals not in their official materials—but shareholders can opt out if they want. This affects investors and companies, with comments open until November 20, 2026, and could shake up how shareholder voices are heard and counted.
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."
Previous / Next Documents
Previous: 2026-22844, National Institute of Arthritis and Musculoskeletal and Skin Diseases; Notice of Closed Meeting
The National Institute of Arthritis and Musculoskeletal and Skin Diseases is holding a closed meeting on April 14, 2027, to review and evaluate the skills and performance of its researchers. This meeting affects scientists working on arthritis and related diseases and helps ensure top-quality research continues. The meeting will be both in person and virtual, with no direct money changes announced.
Next: 2026-22846, Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Make Various Clean Up Changes and a Number of Technical, Non-Substantiative Changes to Its Rulebook