Hermione Granger (yes, from Harry Potter) is famously attributed with the following quote: “I’m going to bed before either of you come up with another clever idea to get us killed. Or worse, expelled.” Unfortunately,...more
Yes, (somehow) it is that time of year again. FINRA recently released its 2023 Report on its Examination and Risk Monitoring Program (the “Report”). As is typical (and this blog has well-covered), it contains a mix of old and...more
2/2/2023
/ Arbitration ,
Broker-Dealer ,
Consolidated Audit Trail ,
Cryptocurrency ,
Enforcement ,
Financial Crimes ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Investors ,
Mobile Apps ,
Regulation Best Interest ,
Regulation BI ,
Risk Management ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Standard of Care
In recent years there has been a spate of legislation and rules passed to protect senior investors. Similarly, observers of FINRA’s and the SEC’s annual priorities will, of course, have noticed both bodies’ inclusion of elder...more
5/9/2022
/ Broker-Dealer ,
Elder Abuse ,
Elder Issues ,
Exploitation ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Investment Adviser ,
Investors ,
New Legislation ,
New Regulations ,
Securities and Exchange Commission (SEC) ,
Senior Safe Act
On March 30, 2022, the SEC issued “Staff Bulletin: Standards of Conduct for Broker-Dealers and Investment Advisers Account Recommendations for Retail Investors” (SEC Retail Standards Bulletin). This guidance builds on prior...more
4/13/2022
/ Broker-Dealer ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Fiduciary-Standards ,
Investment ,
Investment Adviser ,
Investors ,
IRA Rollovers ,
PTEs ,
Regulation Best Interest ,
Securities and Exchange Commission (SEC) ,
Standard of Conduct
F. Scott Fitzgerald said “There are only the pursued, the pursuing, the busy, and the tired.” FINRA may be all of these in 2022, as FINRA CEO Robert Cook announced FINRA’s laundry list of priorities during a SIFMA Q&A last...more
The Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) will be looking for good faith compliance when it conducts examinations of Form CRS after the June 30, 2020 compliance...more