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Updates
FINRA Annual Regulatory and Examination Priorities Letter
On February 8, 2011, FINRA published its 2011 Annual Regulatory and Examination Priorities Letter to member broker-dealer firms to highlight new and existing areas of significance to
FINRA Arbitration Panel Composition – Regulatory Notice 11-05
On February 1, 2011, FINRA amended the Code of Arbitration Procedure for Customer Disputes to allow customers with claims in excess of $100,000 to have
Know-Your-Customer and Suitability Obligations
SEC approves consolidated FINRA rules governing Know Your Customer (Rule 2090) and Suitability Obligations (Rule 2111), effective October 7, 2011. Know Your Customer In general,
Proposed Rule: Net Worth Standard for Accredited Investors – Release 9177
On January 25, 2011, the Securities and Exchange Commission proposed a revised net worth standard as required under the Dodd-Frank Street Reform and Consumer Protection
SEC Extends with Additional Conditions the No Action Letter for Broker-Dealers Relying on Registered Investment Advisers for Customer Identification Program
The SEC Division of Trading and Markets extended, but amended by increasing the conditions, for broker-dealers relying on registered investment advisers to perform customer identification
Proposed Amendments to FINRA Rule 5122 Addressing Private Placements – Regulatory Notice 11-04
FINRA issued a proposed amendment to Rule 5122 requiring disclosure in the offering document of the intended use of offering proceeds, expenses, and the amount
SEC Issues Compliance Extension to Part 2B of Form ADV and the Brochure Supplement
On December 28, 2010, the Securities and Exchange Commission issued Release No. IA-3129, which among other things extended the compliance date for Part 2B of the