During its June 4-5, 2025, meeting, FINRA’s Board of Governors approved a rule proposal that would amend Rule 2210 (Rule) regarding communications with the public. The amendments aim to provide an exemption to the prohibition that has kept broker-dealers from making performance projections in written communications with investors. Such a change aims, in theory, to lessen a misalignment between current FINRA regulations and the SEC’s Marketing Rule. Although broker-dealers may welcome the amendments, their potential impact is somewhat limited, legal experts told the Hedge Fund Law Report. They apply more to the institutional side of the market – well-heeled qualified purchasers – than to accredited investors and may not swing the pendulum far in favor of the “retailization” that SEC Chair Paul S. Atkins and others have called for publicly. This article explores why the Rule in its current form has been a source of frustration for many registered entities, explains how the proposed amendments would alter the Rule and discusses what those changes would mean in practice, with commentary from legal and accounting experts. For discussion of a prior proposal to revise the Rule, see “FINRA Proposes to Permit Use of Performance Projections and Target Returns in Marketing” (Jan. 18, 2024).