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
Rogue rep
FINRA Coins A Scary New Term: “High-Risk Firms”
By Alan Wolper on
Yesterday, FINRA sent a seemingly innocuous memo to member firms giving a brief outline of the subjects that its Board will take up at its meeting this week in sunny Boca Raton, Florida. (Wait, the Board isn’t meeting in Washington, as it normally does, but, rather, in south Florida? Oh, right, it’s February. Much better…
FINRA’s 2019 Examination Priorities Letter: Beware, More Of The Same Is Coming
By Alan Wolper on
In what has become an annual, but hardly exciting – I mean, it’s not like anxiously awaiting the day that pitchers and catchers report to Spring Training – tradition, with the turning of the calendar to the new year, FINRA has once again released a letter announcing what it deems to be its priorities for…
Rogue Brokers: The Numbers Do Not Tell The Whole Story
By Alan Wolper on
Not too long ago, I blogged a couple of times about the amount of attention that is suddenly being paid to the number of registered representatives with disciplinary histories working for FINRA member firms, i.e., the so-called recidivists (who used to be called “rogue reps”). Among the complaints I voiced was the fact that while…
FINRA’s Board Continues To Bend In the Wind Of Criticisim
By Alan Wolper on
Posted in Arbitration, Board of Governors, Enforcement, FINRA, PIABA, Registered Representative, Rogue rep, Rule 2010, Sanctions
On Wednesday, the FINRA Board met and discussed two topics that I recently blogged about: recidivist brokers and unpaid arbitration awards. In predictable fashion, FINRA withered in the face of criticism that its existing rules and policies are somehow not tough enough on its member firms, and embarked on a proposed series of steps…
FINRA Is Going Rogue…Again
By Alan Wolper on
I read an article this week bemoaning the fact that “rogue brokers” – a term that is commonly used but steadfastly undefined – apparently remain rampant in the securities industry. Anyone that has read FINRA’s 2017 Exam Priorities Letter knows that this is one of the issues on which FINRA intends to focus its regulatory…