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.
The Securities and Exchange Commission (the “SEC”) approved two new Financial Industry Regulatory Authority (“FINRA”) rules as part of FINRA’s ongoing rulebook consolidation process.
On January 2, 2014, the Financial Industry Regulatory Authority (“FINRA”) published its annual priorities letter for2014, chief among which will be IPOs, general solicitation in private offerings, crowdfunding portals and microcap fraud.
FINRA did not wait for any dust (or snow) to settle on the New Year before alerting the brokerage industry and the public about its regulatory and examination priorities for 2014.
On January 2, the Financial Industry Regulatory Authority issued its annual letter to FINRA member firms outlining FINRA’s regulatory and examination priorities for 2014. The letter is meant to highlight areas of significance to FINRA’s regulatory programs.
FINRA continues to discipline broker-dealers that fail to detect and investigate so-called “red flags” of suspicious account activity.
FINRA issued an Investor Alert concerning closed-end fund distributions, principally to warn the public that a fund’s distributions might include a return of principal. Financial firms that create or distribute closed-end funds should take warning that FINRA will be looking at their practices in this regard.
Occasionally, you may need emergency relief against a former employee who has absconded with a client list, your confidential information, and the clients themselves. If you are very unlucky, you may need to get a TRO against his new employer as well.