Recent posts

SEC Charges Brokerage Firm With Violating Supervisory and Customer Protection Rules

The Securities and Exchange Commission charged a brokerage firm with violating key customer protection rules after failing to adequately supervise registered representatives who misappropriated customer funds. According to the SEC’s order instituting a settled administrative proceeding, the firm's registered representatives typically work as independent contractors who also operate businesses outside of their securities businesses. The...
Read more

SEC Approves Consolidated FINRA Rules

In Regulatory Notice 15-07 FINRA announced that the SEC approved FINRA’s rule change to adopt FINRA Rules 2040 (Payments to Unregistered Persons) and 0190 (Effective Date of Revocation, Cancellation, Expulsion, or Resignation). The new rules replace provisions of the NASD and NYSE rules and include new provisions. FINRA also has amended FINRA Rule 8311...
Read more