Nasdaq ISE amends gift rule to match FINRA, raising limit to $300

On September 3, 2026, Nasdaq ISE, LLC filed a proposed rule change with the Securities and Exchange Commission under Release No. 34-106325; File No. SR-ISE-2026-49. The notice, published September 10, 2026 in the Federal Register (Vol. 91, No. 177, pp. 58496-58499), announces immediate effectiveness of the amendment to Options 10, Section 27.

The amendment aligns the Exchange's rule with FINRA Rule 3220. It raises the permissible gift limit from $100 to $300 per individual per year, mirrors FINRA's exemption authority by adding paragraph (d) that allows conditional or unconditional relief for good cause, and incorporates supplementary material .01 through .09 that reflect FINRA's guidance on gifts, entertainment, and related matters.

By making the text substantially similar to FINRA Rule 3220, the Exchange seeks to incorporate Options 10, Section 27 into the existing 17d-2 Agreement, which allocates regulatory responsibility for common members to FINRA. The change is intended to eliminate duplicative regulation for members that are also FINRA participants while preserving investor protection.

The full text of the proposed rule change is available on the Exchange's website at https://listingcenter.nasdaq.com/rulebook/ise/rulefilings and at the Exchange's principal office. The Commission is soliciting comments from interested persons during the comment period indicated in the filing.