Independent US securities regulator the Financial Industry Regulatory Authority (FINRA) has launched a consultation process on three new rules regarding securities lending.

The three rules cover the criteria required of a firm involved in a securities lending transaction, the criteria required of a firm’s borrowing or lending of a customer’s margin securities which are eligible to be pledged or loaned, and the obligations on any callable securities a firm has in its control.

Interested parties have until 8^th March 2010 to comment on the regulatory notice.