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 | Jul 25, 2012 | Financial Recruiting Industry
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...
by Patrick M. Kelly | Mar 16, 2012 | FINRA, Technology
FINRA hopes to eliminate administrative delays in the filing by firms of continuing membership applications. When a broker-dealer has an operation, change of ownership, or control change, they are required to file a continuing membership application (the 1017 process)...
by Patrick M. Kelly | Nov 23, 2011 | Financial Services Industry, RIA
“Instead of the Securities And Exchange Commission (SEC) or the Financial Industry Regulatory Authority (Finra) examining RIA firms, the firms themselves should foot the bill for their own periodic compliance examination by using an outside body. “ That’s the...
by Patrick M. Kelly | May 20, 2011 | FINRA
The Financial Industry Regulatory Authority has launched a free searchable database of disciplinary actions against brokers. According to Financial Advisor online magazine, users can search for actions by case number, document text and action date, individual name and...