On August 5, 2016, FINRA in Regulatory-Notice 16–291 proposed revisions to its regulation of broker dealer gifts, entertainment and non-cash compensation (the "proposal") and requested comments to the same. The comment period expires on September 23, 2016.

The proposal would consolidate FINRA's regulation of gifts, gratuities and non-cash compensation into a single FINRA rule series; increase the current gift limit to $175 per recipient, per year; amend FINRA's non-cash compensation regulation to cover sales of all securities products; and consolidate certain interpretive guidance into the proposed rules, among other changes.2 The proposal would amend FINRA Rule 3220 (the "Gifts Rule") and create FINRA Rules 3221 (Non-Cash Compensation) and 3222 (Business Entertainment). Read More