How are broker-dealers complying with the FINRA Suitability Rule?

We are now over 8 months past the compliance date for FINRA Rule 2111 relating to suitability. While FINRA indicated that its initial focus would be on the procedures that firm’s put in place to comply – and to date this is what we have seen – we believe it is only a matter of time before they scrutinize the implementation of those procedures. Is your firm implementing the written policies and procedures it established? How can you be sure?

2 Responses to "How are broker-dealers complying with the FINRA Suitability Rule?"

  1. By now, most have implemplemented their WSPs, and have begun testing.

  2. Joe

    FINRA recently examined our firm and they looked at the written procedures and tested their implementation.

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