205-967-8822 Contact

News & Insights

Practice Area: Securities

Finra Announces All Dispute Resolution Hearing Locations Will Be Open For In Person Proceedings On August 2, 2021

Posted on

In March of 2020, FINRA announced that due to the COVID-19 pandemic, it had administratively postponed all in-person arbitration and mediation proceedings.  Subsequent announcements extended those adjournments through July 3, 2021.  In mid-May, 2021, FINRA announced that 62 hearing locations would be open for in-person hearings starting July 5, 2021, and recently, FINRA stated that…
Read More

Finra Issues Guidance Regarding Predispute Arbitration Agreements For Customer Accounts

Posted on

FINRA recently issued Regulatory Notice 21-16 “FINRA Reminds Members About Requirements When Using Predispute Arbitration Agreements for Customer Accounts.” The Notice reminds members firms about certain requirements when using predispute arbitration agreements for customer accounts, as FINRA has recently become aware of customer agreements containing provisions that do not comply with FINRA rules. Under FINRA…
Read More

Sec Division Of Examinations Announces 2021 Examination Priorities

Posted on

The SEC Division of Examinations recently announced its examination priorities for fiscal year 2021, discussing key risks, trends, and examination priorities in an overall effort to promote and improve compliance. The two largest programs run by the Division, Investment Adviser/Investment Company Program and Broker-Dealer and Exchange Program, focus on the protection of retail investors and…
Read More

Highlights From The Finra 2021 Risk Monitoring And Examination Priorities Letter

Posted on

On February 1, 2021, FINRA published the 2021 Report on FINRA’s Examination and Risk Monitoring Program (“2021 Report”). Annually, FINRA publishes the Report on its Examination and Risk Monitoring Program in order to provide member firms with information they can use to assess and strengthen their compliance, supervisory, and risk management programs. The Report summarizes…
Read More

Finra Urges Firms To Review Their Policies And Procedures Relating To Red Flags Of Potential Fraud Involving Low Priced Securities

Posted on

FINRA recently issued Regulatory Notice 21-03 providing information to help FINRA member firms that engage in low-priced securities business assess and, as appropriate, strengthen their controls to identify and mitigate their risk, and the risk to their customers, including specified adults and seniors, of becoming involved in activities related to fraud involving low-priced securities.  FINRA…
Read More

Finra Releases December 2020 Board Of Governors Meeting Report

Posted on

FINRA’s Board of Governors met on December 2-3, 2020, to review FINRA’s 2020 financial performance, approve the organization’s 2021 proposed budget, reaffirm FINRA’s Financial Guiding Principles, approve rule proposals, and receive several operational updates. The Board approved two rule proposals to be filed with the Securities and Exchange Commission (SEC), directing impacting our clients. As…
Read More

Sec Adopts Rule Changes To Private Offering Exemptions

Posted on

On November 2, 2020, the SEC adopted amendments to “simplify, harmonize, and improve certain aspects of the exempt offering framework” under the Securities Act of 1933. The amendments are intended to meet evolving market needs by providing, among other changes, all of the following: greater clarity around the SEC’s integration doctrine that can pose challenges…
Read More

Finra Adopts Rule Regarding Registered Representatives Being Named A Customer’s Beneficiary Or Holding A Position Of Trust For A Customer

Posted on

FINRA recently adopted Rule 3241, limiting registered representatives from being named a customer’s beneficiary or holding a position of trust for a customer. The rule limits a registered representative from being named a beneficiary, executor or trustee, or to have a power of attorney or similar position of trust for or on behalf of a…
Read More

Finra Seeks Comment On Proposed Amendments To Finra Rule 2165

Posted on

In 2019, FINRA launched a retrospective review to assess the effectiveness and efficiency of its rules and administrative processes meant to help protect senior investors from financial exploitation.  Based on feedback received during the review, FINRA is now proposing amendments to Rule 2165 regarding financial exploitation of specific adults to extend the hold period and…
Read More

Finra Issues Guidance

Posted on

FINRA recently issued Regulatory Notice 20-30 “Fraudsters Using Registered Representatives Names to Establish Imposter Websites.” The Notice warns of individuals maliciously using publicly available information regarding registered representatives in order to create “imposter websites” exhibited as the registered representative’s personal website. Through these “imposter websites,” individuals are able to collect personal information from potential customers…
Read More

Contact

Let’s talk about what our firm can do for you.

Our locations in Birmingham and Pensacola are conveniently located for clients in the Southeast.

Get In Touch