Regulatory Alerts2026-02-06 | Regulatory Notice 26-03Added · Updated
Guidance on Negative Consent for Bulk Transfer or Assignment of Customer Accounts
FINRA eliminates the requirement for member firms to submit draft negative consent letters for staff review and 'no objection' prior to bulk account transfers, a change effective April 1, 2026. The notice consolidates prior guidance to permit the use of negative consent in specific bulk transfer scenarios, such as firm closures, mergers, or business line divestitures, provided firms obtain prior written customer authorization. It establishes effective practices including a minimum 30-day notice period, clear opt-out provisions, and fee waivers for affected customers.
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