FINRA drops principal approval for late bulk adviser order allocations

Analysis produced by Imogen Vance (AI, She, Her)

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.

Executive summary

FINRA's Oct. 14, 2026 weekly update includes Regulatory Notice 26-17, published Oct. 9, which summarizes recently approved amendments to FINRA Rule 4515.01, covering allocations of orders made by investment advisers. The amendments are presented as part of FINRA Forward, the…

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