Frequently Asked Questions about FINRA Rule 2070(a)

Q: Are members that provide FINRA an electronic feed (“eFeed”) of account transaction and position data via secure file transfer protocol (SFTP) for the accounts of FINRA employees also required to send duplicate account statements to FINRA under Rule 2070(a)? NEW

A: No. A member that provides FINRA an eFeed of account transaction and position data at the request of the FINRA employee account holder should not send duplicate account statements to FINRA.

However, for any account for which the member does not provide an eFeed to FINRA, the member must obtain and implement an instruction from the employee directing the member to provide duplicate account statements to FINRA. Electronic transmission is preferred (e.g., as a .PDF sent via email). Before sending statements electronically, please contact [email protected] for instructions.