Assertion: firm's organization | /r/CapableOf | present new theory of liability
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Source sentences:
text: In its November 7, 2008 opinion, the SEC reversed FINRA predecessor NASD, explaining that the self-regulatory organization (SRO) had presented a “new theory of liability” that amounted to a novel interpretation of Rule 3040, which requires registered representatives to obtain approval before engaging in business activity away from their firm.