In XY Planning Network, LLC, et al. v. SEC, et al., the United States Court of Appeals for the Second Circuit rejected a challenge to Regulation Best Interest brought by an organization of investment advisers, an individual...more
7/14/2020
/ Best Interest Standard ,
Broker-Dealer ,
Dodd-Frank ,
Fiduciary Duty ,
Investment Adviser ,
Investment Management ,
Regulation Best Interest ,
Regulation BI ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Transactions ,
Standard of Conduct
The SEC has approved FINRA Rule 2273, which requires a transferring representative to send customers an educational communication regarding firm recruitment practices and account transfers. The rule is designed to address...more
On August 24, 2015, FINRA Rule 2040 concerning payments to unregistered persons went into effect. The rule, approved by the SEC in January 2015, is aligned with ยง 15(a) of the Securities Exchange Act of 1934. Generally, FINRA...more
8/27/2015
/ Broker-Dealer ,
Compensation Agreements ,
Compliance ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
Foreign Affiliates ,
No-Action Letters ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Unregistered Brokers
It is obvious that broker-dealers and their registered representatives, and investment advisors, must be careful in making recommendations to clients. But the recent increase in regulatory interest relating to inaction in a...more
In its Regulatory Notice 12-55, the Financial Industry Regulatory Authority ("FINRA") has updated its guidance on FINRA Rule 2111 concerning suitability. This is FINRA's fourth regulatory notice concerning the rule -- it...more