FINRA Offers Guidance on FINRA Suitability Rule 2111

Stockbroker Law - Tuesday, February 26, 2013
FINRA Offers Guidance on FINRA Suitability Rule 2111

In Regulatory Notice 12-55, FINRA addressed a requirement of FINRA Rule 2111 (Suitability), that a broker-dealer or Registered Representative “have a reasonable basis to believe that a recommended transaction, or  involving a security or investment strategy involving a security or securities, is suitable for the customer” based upon the customer investment profile.  Since the implementation of Rule 2111, questions have arisen regarding the meaning of “customer” and “investment strategy.” 


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Deferred Variable Annuities and Client Suitability

Stockbroker Law - Saturday, February 23, 2013
Deferred Variable Annuities and Client Suitability

Deferred variable annuities are investment products which have features with both insurance  


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Capital Region and Upstate New York Banks Are Selling Variable Annuity Contracts to Senior Citizens - Securities/Investment Law Update

Stockbroker Law - Tuesday, December 04, 2012
Capital Region and Upstate New York Banks Are Selling Variable Annuity Contracts to Senior Citizens - Securities/Investment Law Update

Over the past several years, a number of banking institutions have been involved with the sale of variable annuities to retirees and senior citizens.  These sales take place through their FINRA-registered broker-dealer affiliates, such as Uvest (First Niagara Bank), Key Investments (KeyBank), COO (Citizens Bank), and M&T Securities (M&T Bank).   


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Living Benefit Annuities - Securities and Investment Law

Stockbroker Law - Tuesday, November 27, 2012
Living Benefit Annuities - Securities and Investment Law

In an article entitled Buying Your Own Pension, in the July/August 2012 edition of the AARP Bulletin, veteran financial writer, Jane Bryant Quinn, examines the wisdom of living benefit variable annuities. 


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Equity – Indexed Securities – Not Safe for Most Senior Investors: Investment/Securities Law Update

Stockbroker Law - Tuesday, November 20, 2012
Equity – Indexed Securities – Not Safe for Most Senior Investors: Investment/Securities Law Update

Equity-Indexed Annuities are complex financial instruments that have characteristics of both fixed and variable annuities.  The return earned by investors on equity-indexed annuities can fluctuate –  returns are not fixed or guaranteed and thusly carry more risk than a fixed annuity.  Many investors are not clearly made aware of this fact at time of purchase. 


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