by Patrick M. Kelly | Apr 11, 2013 | FINRA
A former Financial Industry Regulatory Authority, Joseph Sciddurlo claimed in a suit filed last week that he worked as a principal examiner for FINRA in 2010 when he discovered that the regulator’s system allowed large firms to circumvent a Securities and Exchange...
by Patrick M. Kelly | Feb 18, 2013 | FINRA, RIA
Smiles are on the faces of RIA advisors as Richard Ketchum, chairman and chief executive of the self-regulatory organization, which oversees the U.S. brokerage industry, told Reuters he was bowing to political reality, and pulling back from his campaign to regulate...
by Patrick M. Kelly | Jan 16, 2013 | Compensation, FINRA
It didn’t take long for financial advisors to react to FINRA’s January 4 proposal to Regulatory Notice 13-02, which would require member firms to specifically disclose the financial incentives they give to the representatives they recruit. And overall, the wirehouse...
by Patrick M. Kelly | Jan 14, 2013 | Financial Services Industry, FINRA
“Wall Street brokers who are lured to new firms with signing bonuses of at least $50,000 would be required to tell their clients under a rule proposed by the Financial Industry Regulatory Authority.” (OnWallStreet.com, Jan 7, 2013, Zech Faux “Brokers to Disclose….”)...
by Patrick M. Kelly | Dec 26, 2012 | FINRA
Financial advisors are to be relieved of some of their burden in interpreting the FINRA Rule 2111 known as the “Suitability Rule” passed by the Securities and Exchange Commission in November of 2010 and effective in June of this year. The Rule outlines the...
by Patrick M. Kelly | Apr 13, 2012 | FINRA
FINRA‘s proposal to change how broker complaints are expunged from CRD’s Broker Check at least offers the financial advisor some recourse on having “meritless” complaints removed from their record. Prior to the current proposed changes, the broker who was not...
