Background Checks Amendment to Supervision Rule Approved by FINRA, and Core Compliance’s RMU on Social Media Guidance for Broker-Dealers
The Financial Industry Regulatory Authority (“FINRA”) approved an amendment to its Supervision Rule that will require firms to perform background checks on applicants for registration, in an announcement made in an April 24, 2014 press release. These background checks would … Read More
SEC Passes New Broker-Dealer Amendments for Financial Responsibility
In last week’s Compliance blog posting, we discussed a series of new rules announced by the Securities and Exchange Commission (SEC) on July 31, 2013, that brought changes to compliance reporting requirements for broker-dealers (BDs). For this week, we will … Read More
SEC Passes New Broker-Dealer Rules for Compliance Reporting Requirements
On July 31, 2013, the world of broker-dealers (BDs) was taken on by the Securities and Exchange Commission (SEC) with the passage of a new rule and a set of new amendments affecting this financial sphere. While each of these … Read More
FINRA Withdraws BrokerCheck Website Mandate Rule
The Financial Industry Regulatory Authority, Inc. (FINRA) retracted a rule, proposed this year, requiring brokers to display a URL on their websites and on social media profiles linking directly to their background profiles on the online FINRA-based database BrokerCheck. BrokerCheck … Read More
FINRA Continues to Scrutinize Nontraded REITs
Over the past couple of years, examiners with the Financial Industry Regulatory Authority, Inc. (“FINRA”) have focused on how broker-dealers sell nontraded real estate investment trusts (“REITs”). Specifically, Susan Axelrod who is the Executive Vice President of Member Regulation Sales … Read More