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FINRA proposes finalizing updates to outside business activity rules

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Alexander I. Cohen | Armstrong Teasdale, Noelle Mack | Armstrong Teasdale, Devon Goodall | Armstrong Teasdale, Matt Kitzi | Armstrong Teasdale, A. Valerie Mirko | Armstrong Teasdale+3

6 min read
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The Proposed Rule is a welcome development to modernize the existing, outdated requirements related to outside business activity and private securities transactions.

On January 22, 2026, FINRA filed a rule proposal (the Proposed Rule) with the SEC to update existing outside business activity supervision requirements.

The Proposed Rule is part of the ongoing FINRA Forward rule modernization initiative and is promulgated following a notice and comment period. With the January filing, the Proposed Rule

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