An appointed representative (“AR”) is a firm or person who carries on a regulated activity, or activities, under the responsibility of an authorized financial services firm. An authorized firm that appoints representatives in...more
The FCA has published a policy statement and final rules aimed at improving the appointed representatives (ARs) regime. Previous FCA data analysis had shown that there are more issues arising from principals and ARs than from...more
In December 2021, the United Kingdom’s Financial Conduct Authority (“FCA”) published a consultation paper (CP21/34) outlining proposed changes to its Appointed Representatives (“AR”) regime (the “Consultation”). The FCA’s AR...more
On March 5 at 2 p.m. (ET), Ulmer attorney Christopher D. Seps will host a live webinar to discuss the FINRA expungement process from beginning to end, including: - Procedural steps governing the FINRA expungement process ...more
In the past week, I ran across two discrete instances in which FINRA acts as a secret gatekeeper of sorts, exercising its own subjective judgment, without anyone knowing what, exactly, it is doing or why, employing...more
As recognized by new guidance from the Financial Industry Regulatory Authority (FINRA), the departure of a registered representative often prompts customer questions about the departing representative and the continued...more
I told you two weeks ago in my blog post that this would happen. I told you that when Robert Cook announced the topics to be taken up at the February/March FINRA Board meeting in Boca Raton, he slipped and used the new phrase...more
FINRA currently requires registered representatives to inform their broker-dealer of any proposed outside business activities that they may be engaging in so that the firms can determine whether to permit the representative...more