This episode originally aired in August 2018. Schoolhouse Rock taught us how a bill up on Capitol Hill becomes law. Unfortunately, they never got around to explaining how a FINRA rule proposal becomes regulation.In this episode, Phil Shaikun from FINRA’s Office of General Counsel and Jonathan Sokobin, FINRA’s Chief Economist, fill that gap and explain how lawyers and economists are working together to ensure FINRA’s rules are as effective and as tailored as possible.Plus, Shaikun and Sokobin give an inside look into how the FINRA Retrospective Rule Review process works, how rules are selected for review and the myriad of possible outcomes.Resources mentioned in this episode:Retrospective Rule ReviewSEC Federal RegisterFINRA Advisory CommitteesSpecial Notice on EngagementRegulatory Notice on Membership Application ProcessRegulatory Notice and Comments on Outside Business Activities