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Investment Adviser › Suitability Rule

UB Greensfelder LLP

Passing The Suitability Buck To The Customer Is Never A Good Strategy

UB Greensfelder LLP on

I continue to wade my way through a few months’ worth of cases, press releases, etc., looking for things that manage to catch my attention. I found this SEC settlement from the end of July involving Integral Financial, a BD...more

A&O Shearman

Navigating the Co-Existence of Regulation Best Interest and FINRA Rule 2111

A&O Shearman on

On June 5, 2019, the U.S. Securities and Exchange Commission (SEC) adopted Regulation Best Interest (“Regulation BI”). The goal of Regulation BI is to improve investor protection by: (1) enhancing the obligations that apply...more

UB Greensfelder LLP

FINRA Isn’t Ready To Conduct Readiness Tests For Reg BI

UB Greensfelder LLP on

This post is about Reg BI, but if you really want to learn about it, as opposed simply to listening to me gripe, I urge you to register for the webcast that my partners Heidi VonderHeide and Rob Betman will present on...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest Featuring Article on FINRA Notice of New SEC Regulation Establishing "Best Interest" Standard...

Katten Muchin Rosenman LLP on

BROKER-DEALER - FINRA Issues Regulatory Notice Reminding Members of SEC's Adoption of a Best Interest Standard of Conduct - On August 7, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice...more

UB Greensfelder LLP

Implicit Recommendations To Hold: FINRA’s Suitability Rule Goes Toe-To-Toe With SEC’s Regulation BI

UB Greensfelder LLP on

Nearly ten years ago, FINRA decided to update its old suitability rule, NASD Rule 2310. It had been around a long time, and while it seemed to work fine, FINRA decided to incorporate into the new amended rule – FINRA Rule...more

Katten Muchin Rosenman LLP

Additional Guidance on FINRA's Suitability Rule

Katten Muchin Rosenman LLP on

In May 2012, the Financial Industry Regulatory Authority provided guidance on Rule 2111 (Suitability) by providing answers to frequently asked questions (FAQs). Answers that supersede some of these FAQs and additional FAQs...more

Burr & Forman

Burr Alert: FINRA Updates Guidance On Its Suitability Rule

Burr & Forman on

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

Eversheds Sutherland (US) LLP

FINRA Reverses Course and Issues Guidance Changing Its Interpretation Regarding the Key Issues of "Potential Investors" and...

Eversheds Sutherland (US) LLP on

Background - FINRA’s new suitability requirement, Rule 2011, went into effect July 9, 2012. Because the rule was such a departure from prior standards, FINRA issued Regulatory Notice 12-25 (May 2012) to explain the rule...more

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