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Malecki Law Files a Public Comment in Response to FINRA’s Latest Proposal to Modify Rule 3240 to Strengthen the General Prohibition on Borrowing and Lending Arrangements Between Brokers and Their Customers

FINRA has recently proposed changes to its Rule 3240, which allows for scenarios where brokers can borrow from or lend to their clients. FINRA’s rule proposal would strengthen and clarify the general prohibition against these types of arrangements and would narrow the exceptions that fall under the prohibition. In its…

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