1. SEC Wants Data And Comments About Harmonization Of The Rules Governing The Way RIAs Deliver Advice Versus Broker-Dealers
(Matching tags: broker-dealers,FINRA,investment advisors,RIAs,compliance)

The SEC s asking for hard data and other information from about the benefits and costs of the current standards of conduct for broker-dealers and investment advisers when providing advice to retail customers, ...

2. Temporarily, At Least, It Looks Like The End Of Class-Action Lawsuits
(Matching tags: Charles Schwab,FINRA,investor behavior)

A FINRA hearing panel has dismissed two of the three charges FINRA brought against Charles Schwab Corp. over pre-dispute arbitration agreements.   The panel found that, although language in ...

3. FINRA Reissues Controversial Business Practice Rules Of 2010
(Matching tags: FINRA,SIFMA,regulation)

FINRA is reissuing a set of controversial rules for advisors. The original rules were issued in 2010 and comments signaled that the requirement for 30-days’ notice from its members for changes ...

4. FINRA Issues Warning To Investors About Bond Market Risks
(Matching tags: bonds, client education,FINRA)

FINRA has issued an investor alert about the bond market. The regulatory authority warned investors that when interest rates begin to rise, outstanding bonds with low interest rates and high duration ...

5. FINRA Puts SRO Priority On Back Burner, Noting Little Momentum In Congress In Support Of The Measure
(Matching tags: FINRA,Congress,Dodd-Frank)

FINRA is putting its plans on hold to become the SRO to oversee investment advisors.   Noting that there seems to be little momentum in Congress to create an SRO to help the SEC examine more ...

6. FINRA Pulls Proposal To Eliminate 5% Rule As A Result Of Commentary
(Matching tags: regulation,trade,FINRA)

Two years ago FINRA initiated a proposal that would update guidance regarding the 5% threshold for markups and markdowns. Commentary warned FINRA not to do away with the rule.   Now, the regulatory ...

7. New FINRA Rule Would Mandate BrokerCheck On Every Firm Website Or Other Internet Presence
(Matching tags: FINRA, Dodd-Frank,regulation)

A new rule out for comment by FINRA would mandate a link to its BrokerCheck website on every broker-dealer’s website, social media pages, or other comparable types of internet presence.   ...

8. Controversy Over Recent FINRA And SEC Regulatory Actions Raises Questions Of Investor Trust And Also How These Regs Will Affect Clients
(Matching tags: fiduciaries,FINRA,sec)

FINRA opened the floodgates to broker rage when it put its Proposed Regulatory Notice 13-02 out for comment on January 2. The comment period doesn’t expire until March 5 but comments are already ...

9. FINRA Creates Interim Form For Crowdfunding Portals And Will Use Information Gathered To Formulate Rules
(Matching tags: regulation,FINRA,sec)

In a step closer to formluating crowdfunding rules, FINRA has created an interim form for prospective crowdfunding portals.   Information businesses voluntarily submit on the form will be used ...

10. FINRA Focuses On Dark Pools, High-Speed Trading For 2013
(Matching tags: FINRA,regulation,sec)

FINRA is boosting its watch over dark pools and high-speed trading, especially trading across exchanges.   This is in addition to the effort to mandate brokers to disclose to clients the bonuses ...

11. FINRA Opens Comment Period On Compensation Disclosure Rule That Would Include Disclosing Signing Bonuses To Clients
(Matching tags: FINRA,registered reps,fiduciaries)

FINRA has opened a comment period on its proposed rule mandating disclosure of broker compensation including bonuses.   Member firms will be required to disclose financial incentives they offer ...

12. Wells Fargo Advisor Who Bilked At Least A Dozen Clients Makes Front-Page News In Today’s New York Times
(Matching tags: fraud,Dodd-Frank,FINRA)

Philip Horn, a Los Angeles-based advisor at Wells Fargo who managed assets for ultra-high-net worth individuals is the subject of a story on the front page of today’s New York Times in a story ...

13. Social Media Compliance Imbroglio At Netflix Illustrates Risk Securities Firms And Professionals Face From Unregulated Use Of Twitter, Facebook, And LinkedIn
(Matching tags: broker-dealers,client communications,compliance,FINRA,investment advisors,RIA compliance,Social Media)

Thanks to a seemingly innocuous Facebook posting by its Chief Executive Officer, Netflix is facing the prospect of the Securities and Exchange Commission bringing a civil action against the company and ...

14. FINRA Is Pushing For Disclosure Of Signing Bonus Deals To Clients...And Why Shouldn't They?
(Matching tags: Advisor businesses,client retention,FINRA)

FINRA is considering requiring advisors and their firms to disclose fully to clients the details of incentive packages when advisors switch firms.   Danny Sarch at Investment News thinks this ...

15. Appointment Of Elisse Walter As SEC Chair-Designate Makes FINRA More Likely To Be Named Self-Regulatory Organization Overseeing RIAs
(Matching tags: RIA Registration,RIA compliance,regulation,compliance,FINRA)

... is nonetheless a significant victory for those who support naming FINRA as the self-regulatory organization of RIAs.   ...

16. SEC And FINRA Offer Grace Periods To Firms Affected By Storm
(Matching tags: FINRA,sec,trade)

The SEC and FINRA are offering grace periods for making filings and settling trades for firms that have been affected by Hurricane Sandy.   Trade settlement extensions are being offered on ...

17. FINRA Opens Its Arbitration System To Registered Investment Advisors
(Matching tags: FINRA,registered investment advisors,independent broker-dealers)

FINRA’s arbitration process is now open to registered investment advisors (RIAs). Formerly, the system was only available for industry complaints involving securities firms and broker-dealers. ...

18. FINRA Considers Proposal Mandating Greater Consumer Access To BrokerCheck Through Web Links
(Matching tags: registered reps,regulation,broker-dealers,FINRA)

FINRA has drafted a proposal mandating that broker-dealer websites contain a link to its BrokerCheck system. The proposed amendment would also cover any website maintained by or on behalf of anyone associated ...

19. Broker Says Record That Shows Investor Complaints Totaling $1.4 Million Should Be Expunged Out Of Fairness And A California Appeals Court Agrees
(Matching tags: regulation,Dodd-Frank,FINRA)

The Financial Industry Regulatory Authority says that stringent criteria must be met before a broker can have a complaint from a client expunged from his or her record. On August 23, a California court ...

20. California Court Rules That Brokers Are Independent Contractors, Not Employees
(Matching tags: Advisor businesses,broker-dealers,FINRA,sec)

... the plaintiffs—two former Waddell & Reed brokers—in the case emphasized that the firm was bound by SEC and FINRA regulations to govern brokers’ advertising, use of business cards, ...