FINRA’s Senior Protection Rules Now Effective
2/7/18
By: Theodore C. Peters
In 2007, FINRA issued Regulatory Notice 07-43, which served as a “reminder” that member firms and registered persons had a heightened obligation to senior investors. At that time, NASD Rule 2310 required that in recommending …
FINRA Seeks to Tighten Rules for Expungement of Customer Dispute Information
1/5/18
By: Theodore C. Peters
What once was a relatively simple process of removing outdated or false information on a registered person’s CRD (Central Registration Depository) record has become increasingly complicated (and expensive) over the years. Bit by bit, securities regulators …
11/10/17
By: Patrick Y. Yoo
In October, 2017, the Securities and Exchange Commission approved a new set of Rules proposed by the Financial Industry Regulatory Authority (FINRA) that will go into effect October 1, 2018. The changes enacted by these Rules …
FINRA Clarifies “Know Your Customer” and “Suitability” Rules
9/17/12
By: Joyce Mocek
FINRA Rule 2090, effective July 9, 2012, has streamlined and replaced the former NASD Rule 405, the “Know Your Customer” standard. The new rule contains a “reasonable diligence” standard, compared to the old rule requirement of “use …