SEC Approves FINRA Rule Change Allowing Performance Projections
FINRA member broker-dealers can now include performance projections or targeted returns in public communications as of Oct. 15, 2026.
On Oct. 15, 2026 the Securities and Exchange Commission issued an order approving FINRA's proposed amendment to Rule 2210, Communications with the Public. The order authorizes a new, limited exception that permits member broker-dealers to project performance or provide a targeted return for a security, portfolio, asset allocation, or investment strategy in public communications, provided the conditions set forth in the amendment are satisfied.
FINRA Rule 2210 presently bars communications that predict or project performance, with three narrowly defined exceptions: hypothetical illustrations of mathematical principles, certain investment analysis tools or reports, and price targets in research reports. The approved amendment adds a fourth exception, expanding the scope of permissible content for member communications.
FINRA first filed the proposed rule change on Feb. 10, 2026. The notice was published for comment on Feb. 25, 2026, and the comment period closed on Mar. 18, 2026. After a series of extensions - Apr. 7, 2026 to May 26, 2026; Jul. 21, 2026 to Oct. 23, 2026 - FINRA submitted Partial Amendment No. 1 on Jun. 30, 2026 and responded to subsequent comments on Oct. 14, 2026. The Commission's final order, issued Oct. 15, 2026, confirms the amendment's adoption.
The order binds all FINRA member broker-dealers, requiring them to adhere to the newly authorized exception when incorporating performance projections or targeted returns into public communications.
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