In a recent AdvisorOne article entitled “Resolved: FINRA Should Review These 10 Outdated Rules,” the authors address 10 FINRA rules they believe are outdated and often subject to confusion in their interpretations. One can only hope that they’ve shared their thoughts with FINRA’s advisory and standing committees. While FINRA’s rulemaking process is fairly open and transparent, affording industry and the public the opportunity to comment about the merits of its rules, the process is time consuming, complex and fraught with delays. Don’t expect FINRA to reconsider or modernize these rules anytime soon. At best, FINRA might decide to provide additional interpretative guidance on these 10 areas. The question one has to ask is whether that guidance will be consistent with the letter of the particular rule.