Shortly, I hope to get around to drafting a blog post about FINRA’s latest demonstration of abasement to PIABA and claimants’ counsel everywhere, namely new Rule 4111. But, that rule is such a monstrosity that it will take a little time to parse, and a lot of work to get the post shorter than ten
High-Risk firms
FINRA’s New Rules Are A Game-Changer, Especially When It Comes To Hiring . . . And Not In A Good Way
For many years, FINRA has attempted in several settings to substitute objective criteria for subjective ones, to try and make things easier for itself, and to make things more consistent from district to district and from firm to firm. For instance, FINRA used to – and may still today – identify firms whose exam cycles…
FINRA Proposes To Dispense With Due Process, All Because It’s Failed To Do Its Job Of Policing The Markets
By Alan Wolper on
Reading Reg Notice 19-17 makes me think of the legal arguments that I’ve recently read regarding whether a president can be found guilty of obstructing justice if the actions in question were taken out in the open, for everyone to see. Here, FINRA’s proposed power grab is simply outrageous, but, you got to give them…
FINRA’s Proposal On High-Risk Firms Is A Must-Read, But Hardly A Must-Enjoy
By Alan Wolper on
Posted in FINRA, High-Risk firms
I apologize for all the posts this week, but I am traveling and am in a different time zone, so I am awake at hours when, ordinarily, I would be asleep, giving me time to muse. Anyway, given that, I will not test your willingness to indulge my random thoughts a third time in one…
FINRA Says, Proof? We Don’t Need Your Stinkin’ Proof
By Alan Wolper on
If you are a regular reader of this blog, then you know that over my last few posts, I have been talking about an increasingly visible effort by FINRA to turn its regulatory eye from rogue brokers – who have been an irritant to FINRA and NASD for decades – to rogue firms (my term,…
FINRA Is Going After “High-Risk” Firms, But First Has To Invent The Definition Of High-Risk
By Alan Wolper on
I told you two weeks ago in my blog post that this would happen. I told you that when Robert Cook announced the topics to be taken up at the February/March FINRA Board meeting in Boca Raton, he slipped and used the new phrase “high-risk firms.” Well, in yesterday’s announcement about what actually took place…