Rule 2111 expands broker-dealer suitability and “know your customer” obligations in three ways and it became effective on July 9.
Is this just another bureaucratic initiative or does it really strive to provide uniformity and consistency to the old rule?
And will it in fact, bring more sophistication to the arbitration process?
You can “wade through” it all in OnWallSteet.com’s report by lawyer/analysts Kirsch, Polk, Rubin, and Stadler.
(* excerpted from an article published in Thomson Reuters’s Wall Street Lawyer and authored by Clifford Kirsch, a partner and member of the financial services practice group in the New York office of the law firm Sutherland Asbill & Brennan; S. Lawrence Polk, a partner and member of Sutherland’s litigation practice group in the firm’s Atlanta office; Brian Rubin, a partner and member of the litigation practice group in the firm’s Washington, D.C. office; and Avital Stadler, a counsel and member of the firm’s litigation practice group in Atlanta).