FINRA drops principal approval for late bulk adviser order allocations
FINRA's Oct. 14 weekly update summarizes Regulatory Notice 26-17, which finalizes amendments to Rule 4515.01 governing how firms allocate bulk orders placed by investment advisers. The change is part of the broader FINRA Forward rule modernization effort and removes a specific post-trade review step for member firms.
- FINRA Regulatory Notice 26-17, published Oct. 9, summarizes amendments to Rule 4515.01 on allocations of orders made by investment advisers.
- The amendments eliminate the requirement that a principal review and approve allocations of bulk investment adviser orders received after trade date.
- The notice text states the amendments take effect Nov. 16, 2026.
- A separate Regulatory Reminders entry in the same FINRA update states the rule change takes effect Nov. 6.
- The amendments are described as part of the FINRA Forward rule modernization initiative.