Registered Reps

FINRA Announces Escalation of High-Risk Broker Program

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by smatasar     November 28, 2013      0.0 (0) Facing government pressure to crack down on the industry's most problematic registered representatives, FINRA announced a program in February 2013 to focus on what it deems "high-risk brokers."  Now FINRA is expanding the program.

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Board of Governors Authorizes FINRA To File Recruitment Compensation Proposal With SEC

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by agluck     October 10, 2013      0.0 (0) The Financial Industry Regulatory Authority (FINRA) today announced that its Board of Governors approved a proposal requiring brokers to disclose recruitment compensation paid to them as an incentive to move to a new firm. The proposal needs to be submitted to the Securities and Exchange Commission (SEC) for review and approval. If approved,

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Are Brokers Fiduciaries, Even Though They Accept Commissions? Yes, Says Financial Advice Ethics Expert Ron Rhoades

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by agluck     May 22, 2013      0.0 (0) A lot of fee-only advisors think that advisors who accept commission compensation cannot be fiduciaries. That’s not necessarily true. Legal experts say the Securities Exchange Act of 1934 imposes a fiduciary obligation on brokers accepting commissions similar to the fiduciary standard under the Investment Advisers Act of 1940, and financial

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FINRA Considers Proposal Mandating Greater Consumer Access To BrokerCheck Through Web Links

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by lisagray     September 24, 2012      0.0 (0) FINRA has drafted a proposal mandating that broker-dealer websites contain a link to its BrokerCheck system. The proposed amendment would also cover any website maintained by or on behalf of anyone associated with of member firms.

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Broker Says Record That Shows Investor Complaints Totaling $1.4 Million Should Be Expunged Out Of Fairness And A California Appeals Court Agrees

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by lisagray     September 06, 2012      0.0 (0) The Financial Industry Regulatory Authority says that stringent criteria must be met before a broker can have a complaint from a client expunged from his or her record. On August 23, a California court completely upended that requirement.

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