FINRA: Moving in the Right Direction
The past year has been a time of significant change not only for our industry, but for our regulators, as well. In particular, FINRA – where Robert Cook took over […]
Category Archives: government regulation
FINRA Dispute Resolution Task Force Final Status Report & Recommendations
In June 2014, FINRA formed a Dispute Resolution Task Force to consider possible enhancements to its arbitration and mediation forum. A year earlier, FSI had also formed our own Arbitration […]
Prompt Transmission of Funds No Action Letter
Our member firms will be happy to know that there has been a significant positive development in the “prompt transmission” of funds. Financial services firms have long struggled with the […]
SEC Announces Exam Initiative
On July 13, the SEC’s Office of Compliance, Inspections and Examinations (OCIE) announced that it is undertaking an initiative to address the risk that registered advisors may be making certain […]
Overtime Pay Rule Changes Will Impact Our Industry
In 2014, the Administration began an effort to update the rules surrounding federal wage and hour standards. As part of that effort, the Department of Labor (DOL) released a proposal […]
FINRA Guidance: Pension Income Stream Products
On April 19, 2016, FINRA released regulatory guidance to member firms regarding sales of pension income stream products. These products typically involve an up-front lump sum payment to a pensioner […]
Letter to Congress: Stop the DOL Rule Now
On Wednesday, April 27, several financial services trade associations, including FSI, sent a letter to Congress regarding H.J. Res. 88. This joint resolution disapproves the recent rule submitted by the […]
FINRA and SEC Exam Priorities
Recently, both FINRA and the SEC have issued their 2016 Exam Priorities. Both letters include several overlapping topics and reflect regulators continued focus on retail investor protection. Below please find […]
DOL’s fiduciary exemption is not a workable option for advisers
Despite months of media attention and frequent discussion within our industry, many financial advisers are only beginning to grasp the implications of the Labor Department’s effort to expand its definition […]
Update: FINRA’s CARDS Proposal
In a significant win for FSI and our industry, FINRA Executive Vice President of Regulations Susan Axelrod announced recently that her agency will no longer pursue its Comprehensive Automated Risk […]
