Risk Management Update Profile – Identifying Conflicts of Interest for Broker-Dealers
At the end of each month, Core Compliance & Legal Services, Inc. (“Core Compliance”) publishes a Risk Management Update (RMU), an in-depth article written by one of our staff members on a current relevant topic in the compliance, securities and … Read More
Background Check Requirement for Massachusetts IA Representatives to Take Effect in January 2014
Unlawful activities and prosecuted corruption by investment adviser representatives (“IAs”) in the Commonwealth of Massachusetts will now be harder to hide due to a new regulation requiring background checks for IAs which was passed by the Office of the Massachusetts … Read More
Alternative Mutual Funds
August 2013
SEC Approves Greater Disciplinary Record Disclosure by FINRA in Effort to Increase Transparency
A proposal by the Financial Industry Regulatory Authority, Inc. (FINRA) to increase the release of publically-available information about disciplined brokers has been approved by the Securities and Exchange Commission (SEC). The measure assures the release of copies of disciplinary complaints … Read More
FINRA and Compliance Experts Push for Brokers to Educate Investors on Bond Risks
Richard Ketchum, the chairman, and chief executive of the Financial Industry Regulatory Authority (FINRA), recently cautioned brokers on the potential decrease in bond values at the agency’s annual conference in Washington, DC. In his speech on May 21st, Ketchum touched … Read More
Charles Schwab Backpedals and Retracts Client Class-Action Waiver
In a move that has rippled through the securities industry, Charles Schwab has retracted their waiver of rights by clients of class-action lawsuits stipulated in their account agreements. Schwab explained that it would be revising the agreements to reflect this … 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 Drops Bid to be SRO for Registered Investment Advisors, For Now
Over the last couple of years, FINRA has spent nearly $5 million lobbying to become the primary regulator for registered investment advisers (“RIA”). However, Richard G. Ketchum chief executive of FINRA has stated that FINRA will no longer aggressively seek … Read More
FINRA Issues Exam Priorities for 2013
On January 11, 2013, the Financial Industry Regulatory Authority (FINRA) released its exam priorities list that it will focus on during its routine examinations this year. As investors continue to seek attractive returns, FINRA highlighted its intent to focus on … Read More