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Financial Services Law Insights and Observations

FINRA and SEC provide temporary extension of time for submission of fingerprint information

Federal Issues Covid-19 FINRA SEC Securities

Federal Issues

On March 20, the SEC issued an order that provides a temporary exemption until May 30, 2020, from the fingerprinting requirements of Securities Exchange Act Rule 17f-2 for FINRA members and their employees. On March 24, FINRA provided a temporary extension of time for submission of fingerprint information under Rule 1010(d) by notifying the SEC that FINRA’s members and their employees will rely on the SEC’s fingerprinting exemption. A FINRA member seeking to take advantage of this temporary exemption must comply with certain guidance published by FINRA.