It may be the ultimate example of the heavy price that a BD pays for being subject to FINRA regulation, and it happens all the time. Broker-dealer A decides to cease operations, for whatever reason, so it files a Form BDW (which, technically speaking, is a request by the BD to withdraw its FINRA membership
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Settling with FINRA Can Be Ugly, But It Sure Beats the Alternative
By UB Greensfelder on
I used to work for NASD (before it became FINRA). First as an attorney for the Department of Enforcement, and, later, as the Director of the Atlanta District office. Given the scope of my experience, I was able to see Enforcement cases as they were developed in the examination phase, conducted by Member Regulation, through…
SEC Supports Creating a Uniform Fiduciary Standard; But is FINRA Already Enforcing It?
By UB Greensfelder on
SEC Chairwoman Mary Jo White recently announced her support of a uniform fiduciary standard for broker-dealers and investment advisers, ending any remaining speculation as to her views on the subject. The announcement kicked of a whirlwind of speculation in the industry – What would the new standard look like? When would we see it? Will…