Financial Industry Regulatory Authority (FINRA)
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Deeper broker background checks are necessary
Implementing a rule that would require mandatory background checks on new brokers could help uncover crucial information
Is Finra pulling its effortsto be the SRO for advisers?
Despite Finra's denials (including one from CEO Richard Ketchum just last week), some believe the regulator still wants to be the SRO for advisers.
CARDS proposal poses challenges, unintended consequences
Though well-intended, Finra's plan could come with new security concerns and costs
FSI opposes Finra proposal for automated account information collection
CARDS would pose risks and challenges to its members, broker-dealer group contends.
DOL fiduciary opponents point to UK experience to bolster their case
A ban on financial advisers' charging commissions in the United Kingdom has driven investors with small accounts out of the advice market, according to a mutual fund official in Europe, something that Department of Labor fiduciary opponents argue could happen here.
ICI pushes back on too-big-to-fail label for big fund firms
Breakfast with Benjamin: ICI resists 'Too Big to Fail' label for fund firms plus Crimea chooses Mother Russia and what that means for the markets. And guess what, the Fed is out of ammo, Pimco spins the Mohamed El-Erian departure while Mr. El-Erian opens a Twitter account.
Finra fines two IBDs owned by Ladenburg Thalmann a total of $1.275M
Triad Advisors, Securities America failed to supervise reps who created and sent inaccurate consolidated account statements to clients, regulator says.
Investment adviser lobbyist: Finra will renew effort to become adviser SRO
Regulator is 'playing the long game,' sees advisers as regulatory and revenue opportunity, IAA's Neil Simon says.
Finra's BrokerCheck comes under fire
Database omits bankruptcies, tax liens, and other vital information, lawyers group claims
Finra arb panel sends reps a message
Steep punitive damages awarded to a client show that reps will be forced to pay heavily for their misconduct
Finra fines Berthel Fisher $775,000 for compliance failures
Regulator said IBD didn't adequately train or supervise brokers selling alternative investments and nontraditional ETFs .
Finra comes in from out of the cold
The snowstorm that walloped most of the East Coast last week did not deter Finra's board from meeting in New York and moving on important investor issues.
Finra agrees to dump expungement agreements
Rule change would stop brokers from placing conditions on settlements stipulating that customers agree not to oppose brokers' move to clear record.
Finra approves rule to redefine public arbitrators
Regulator will send a proposal to the SEC that could limit those with industry ties from serving on panels.
Finra moves ahead with BrokerCheck, arbitration and expungement efforts
At its board meeting, the regulator put out for public comment changes to how firms link to its BrokerCheck database. It also backed changes to how it defines arbitrators and moved to prohibit firms and brokers from putting conditions on settlements.
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February 27, 2014