New FINRA Rule 3110 (effective December 1, 2014) sets out various written procedures and requirements for member firms. You should pay particular attention to these rules because they suggest those areas of focus in any upcoming examination.
Effective December 1, 2014, there will be new rules for broker-dealer supervision. With these changes, FINRA is placing more burdens on a firm’s supervisory system.
On March 19, 2014, the Securities and Exchange Commission approved several compliance rules proposed by the Financial Industry Regulatory Authority (FINRA).
FINRA Invites Public Comment On a Modified Regulatory Scheme for Broker-Dealers Specializing in M&a and Corporate Finance
FINRA is seeking public comment on a much needed overhaul of the regulatory requirements for broker-dealers who specialize in M&A and corporate finance.
On March 10, 2014, Financial Industry Regulatory Authority, Inc. (“FINRA”) submitted a proposed rule to the Securities and Exchange Commission (“SEC”) that would require disclosure to certain clients and FINRA regarding the details of a broker-dealer representative’s financial recruiting incentives (the “Proposed Rule”).
Bonuses and other forms of compensation are frequently used by one firm to attract talent away from another firm. FINRA has now proposed a rule that would require brokers who receive in excess of $100,000 to disclose that payment to their customers.
Bitcoin remains fixed on the front pages of the business and technology news for both the salacious and the positive. Much attention has been paid to the collapse of the former top bitcoin exchange, Mt. Gox, stemming from the purported theft of nearly $500 million in bitcoins.
FINRA (the Financial Industry Regulatory Authority) is soliciting public comment on a proposed rule set (LCFB Rule 14-09) for firms that meet the definition of “limited corporate financing broker” (LCFB).
February may be sweeps month for television ratings, but FINRA sweeps happen all year round. And make no mistake, these sweeps have big stakes. As a result of the current interest rate environment and volatility in the equity market, many investors seek alternative investments, some of which may be risky. It comes as no surprise that FINRA has its sights set on complex and structured products.
FINRA recently announced another settled disciplinary proceeding alleging unsuitable sales of levered and inverse exchange-traded funds (ETFs). This second such announcement in recent months involving non-traditional ETFs sends the clear message that FINRA continues to be intensely focused on the retail sale of complex structured products.