Regulatory Notice 12-55 (suggest you read it) now states the rule applies only to customers who open an account or buy a product for which the brokerage firm receives compensation.

In addition, the new notice says the suitability rule does not apply to recommendations of non-security products made as part of an individual broker's outside business activity.

The new suitability rule would generally not create a continuing duty to monitor an investment or strategy. 

So, now when you go to a holiday cocktail party you should be able to have idle conversation with people who aren't customers and not be worried about being charged under the suitability rule. Happy Holidays!