On January 9, we hosted a webinar on private securities transactions and outside business activities. The webinar reviewed and analyzed recent developments common practices and regulations relating to outside business activities and private securities transactions.
Our speaker Burton Wiand, Chairman of Wiand Guerra King P.L., provided practical and specific advice on how to comply with these procedures and avoid compliance and regulatory issues. He also illustrated and discussed several pitfalls of failing to comply with regulatory procedures related to outside business activities. Wiand reviewed several recent cases and FINRA’s sanctions guidelines as well.
Wiand stressed the importance of reviewing these regulations and ensuring compliance with them. The majority of these activities are supervised by FINRA rules 3040 (Private Securities Transactions Of An Associated Person), 3050 (Transactions For Or By Associated Persons), and 3270 (Outside Business Activities of Registered Persons). He also answered several questions from attendees related to passive investments and the importance of reporting these activities to compliance departments. For more information or to access a recording of this webinar, visit our online webinar section (member login required).