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The new suitability and Know-Your-Customer rules will present FINRA with the opportunity to bring a variety of enforcement actions against both firms and registered representatives. The types of cases will likely be similar to enforcement actions that FINRA has brought under the existing rules.
July 11
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The new message focuses on a targeted approach to repealing certain provisions rather than the whole law and trying to convince everyday Americans they too will suffer the consequences of new rules for the financial industry.
July 11 -
A California Superior Court has denied an investors appeal of a March arbitration decision, including claims that one witness was unreasonably excluded and another witness was intimidated against testifying.
July 10 -
FINRA Rule 2090 will impose a new requirement on many firms, that of knowing your customer. Firms that have not previously been subject to a Know-Your-Customer requirement are determining what facts it deems essential in connection with servicing an account.
July 10 -
The industry veteran will be chief counsel and chief compliance and ethics officer in the in the Office of Compliance Inspections and Examinations.
July 10 -
On July 10, 2012, The 32-year wait for a comprehensive record-keeping system to monitor trading across U.S. equity and options markets is approaching conclusion.
July 10 -
As financial professionals grapple with a new regulatory mandate for the suitability of investment advice, a leading industry advocacy group is continuing its opposition to two key provisions of the new rules from the Financial Industry Regulatory Authority (FINRA) that took effect Monday.
July 9 -
The time has finally arrived. FINRAs new suitability and know-your-customer rules take effect today.
July 9 - Money Management Executive
On July 9, 2012, Just how tough can it possibly be to successfully stage an IPO, at a time when the bulk of trading on the nation's equity markets is automated? And when it will only get more so? The failure of the Facebook IPO has so rattled investors that it has become a totem of their lost faith in the orderly functioning of capital markets.
July 6 -
The SEC named Norm Champ director of the agencys division of investment management, replacing Eileen Rominger, who is retiring.
July 6
