Financial Regulatory Forum

FINRA’s new suitability rule looms, with expanded customer-information requirements

By Guest Contributor
June 27, 2012

By Nick Paraskeva

NEW YORK, June 27 (Thomson Reuters Accelus) - FINRA’s new suitability rule expanding customer information requirements and applying them to more transactions the is set to go into effect July 9, after delays requested by firms to get more time to adapt.

FINRA’s know-your-customer and suitability rules require brokerage changes, new strategies

By Guest Contributor
June 25, 2012

By Morris Simkin, Thomson Reuters Accelus contributing author

NEW YORK, June 25 (Thomson Reuters Accelus) - Know-Your-Customer Rule (FINRA Rule 2090) and a new Suitability Rule (FINRA Rule 2111). When these rules are read together, the information required of a customer is materially expanded, even in the case of institutional investors.

Client funds, net capital among hot topics for SEC 2012 exam program

By Guest Contributor
May 18, 2012

By Nick Paraskeva, Thomson Reuters Accelus contributing author

NEW YORK, May 18 (Thomson Reuters Accelus) –  The SEC has new priorities in its 2012 exam program, including verifying firms’ holding of client funds and their net capital calculations.

U.S. compliance officers need clarity on status as ‘supervisors,’ industry professionals say

By Guest Contributor
May 8, 2012

By Stuart Gittleman

NEW YORK, May 8 (Thomson Reuters Accelus) – The U.S. Securities and Exchange Commission’s dismissal of failure-to-supervise proceedings against a broker-dealer’s general counsel did little to ease compliance officers’ concerns over their potential for acting in a supervisory capacity, according to leading industry professionals.

U.S. budget squeeze could push investment advisers into FINRA oversight -trade group (Complinet)

By Guest Contributor
January 5, 2011

By Ted Knutson,  Complinet

It is “possible” a budget squeeze could push the Securities and Exchange Commission into calling for a self-regulatory organization for investment advisers, David Tittsworth, executive director at Investment Adviser Association, told Complinet.

PREVIEW-FINRA faces calls to lift veil on finances, pay

By Reuters Staff
August 10, 2010

By Joseph A. Giannone

NEW YORK, Aug 10 (Reuters) – Wall Street regulator FINRA, which demands disclosure and openness from brokers, is under pressure to lift the veil on its own affairs.

U.S. watchdog probes firms’ trading tips – sources

By Reuters Staff
December 18, 2009

NEW YORK/WASHINGTON, Dec 18 (Reuters) – The U.S. brokerage watchdog is probing how Wall Street firms, including JP Morgan Chase and Citigroup Inc, offer stock research, two people familiar with the probe said on Friday.