FINRA Amends Its Suitability, Capital Acquisition Broker Suitability and Non-Cash Compensation Rules to Comply with Sec’s Regulation Best Interest
Aug 27, 2020

FINRA Amends Its Suitability, Capital Acquisition Broker Suitability and Non-Cash Compensation Rules to Comply with Sec’s Regulation Best Interest

By Derek C. Anderson

On June 19, 2020, FINRA issued Regulatory Notice 20-18, noting changes to FINRA’s suitability rule, Capital Acquisition Broker (“CAB”) suitability rule and rules governing non-cash compensation consistent with the requirements of the SEC’s Regulation Best Interest (“Reg BI”).  The changes were approved by the SEC and became effective on June 30, 2020, the compliance date […] More

FINRA Issues New Regulatory Notice Regarding Private Placement Communications with the Public
Aug 24, 2020

FINRA Issues New Regulatory Notice Regarding Private Placement Communications with the Public

By Denis Dice

FINRA has issued Regulatory Notice 20-21 which provides guidance to its member firms to help them comply with FINRA Rule 2201 pertaining to retail communications concerning private placement offerings.  FINRA Rule 2201 requires that all member firm communications be fair, balanced and not misleading.  Communications must disclose risks and be accurate in order to provide […] More

The “Zoom” Boom:  FINRA Maintains Its Authority to Compel Virtual Hearings Over Member Objections
Aug 17, 2020

The “Zoom” Boom: FINRA Maintains Its Authority to Compel Virtual Hearings Over Member Objections

By Michael Schwartzberg, Allison J. Beatty

If we have learned anything in 2020, it is that the only thing constant in life is change.  The world has changed in just about every way and day-to-day life continues to evolve in light of those changes.  One major development is the increased use – or perhaps reliance – on remote communication.  Zoom, now […] More

Joel Wertman to Host Webinar on Digital Currency for Claims Xchange
Jul 27, 2020

Joel Wertman to Host Webinar on Digital Currency for Claims Xchange

Joel Wertman is hosting a free webinar with Claims Xchange entitled, Digital Currency and Its Future of Litigation on August 6, 2020 2:00 – 2:30 PM ET Click here for more information and to register for this event.   More

Jul 1, 2020

Florida Passes House Bill 813: Protection of Vulnerable Investors

By Derek C. Anderson

On June 30, 2020, Florida’s Governor signed Florida House Bill 813, amending Florida Statute 415.1034 and creating Florida Statute 517.34. This Bill was drafted to protect vulnerable investors within the State of Florida from financial exploitation. The Bill requires broker-dealers, investment advisers and associated persons to report knowledge or suspicion of abuse, neglect, or exploitation […] More

Supreme Court Upholds SEC’s Ability to Seek Disgorgement, But Places Limits
Jun 24, 2020

Supreme Court Upholds SEC’s Ability to Seek Disgorgement, But Places Limits

By Derek C. Anderson

On Monday, June 22, the U.S. Supreme Court said, in an 8-1 decision, that the U.S. Securities and Exchange Commission could continue collecting disgorgement in an amount that does not exceed a wrongdoer’s net profits and is awarded for victims as “equitable relief.” In rendering its decision, the Supreme Court looked at whether a particular […] More

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