FINRA eyes enhancements to digital asset sale disclosures

NEW YORK : The Financial Industry Regulatory Authority plans to look at enhancing the disclosure regime for broker dealers that sell digital assets, and may also update its rules around how options accounts are opened, the head of Wall Street's self-regulatory body said on Wednesday.

"There are disclosure rules that apply today and we want to give opportunities to talk about those and also to make sure, to see, if there are additional enhanced requirements that ought to apply," Cook said on the webcast, which was focused on FINRA's 2022 priorities. FINRA's current rules around options were adopted decades ago and at that time investors looking to open an options account had to go through a registered representative who would decide whether it was appropriate for the customer to trade options based on past experience and trading activity, he said.

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