Month: April 2013

Insurance for Theft From Brokerage, Investment and Insurance-Type Accounts

The victims of Ponzi schemes and theft involving their financial accounts may be afforded protection offered by broker blanket bonds, fidelity bonds, broker/dealer professional liability insurance coverage, errors and omissions policies, Registered Representative professional liability coverage, fiduciary coverages, and the like.   Many investors who have been victimized in theft schemes abandon all hope of […]

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FINRA Addresses Complex and Non-Traditional Investments

The past few years of unstable financial markets, while yielding fixed income products and declining interest rates, have seen an explosion of investment products.  Many of these investment products are structured or packaged investments, which do not have a readily-available market and which cannot be priced.  The Financial Industry Regulatory Authority (FINRA) has addressed the […]

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Whistleblower Protection Under the Procedures of the Securities and Exchange Commission

Professionals employed in the Financial Services Industry have led many initiatives in restoring transparency and honesty to the financial markets, thanks to protections afforded by the SEC’s recently-enacted whistleblower protection procedures.  Investment and financial professionals faced with the stressful situation of reporting securities law violations and other wrongdoing are afforded job protection, as well as […]

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Supervisory Requirements Under NASD Notice to Members 12-03 Relating to Complex Products

The heightened supervision of complex products: The preapproval of the products after the exercise of reasonable due diligence and research, assessing the product for customer suitability. Post-approval review to monitor the product for their performance for purposes of a continuing, ongoing suitability assessment. Training of Registered Representatives to assure their knowledge of such products, as […]

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Stop Quotation Order Guidelines Under FINRA Regulatory Notice 12-50

Regulatory Notice 12-50 defines other alternative order types, such as a “stop quotation order” or “stop quote order” or an alternative order type that triggers transactions using a quotation at the stop price, which requires separate written disclosures to the customer in paper or electronic form prior to the placement of such alternative orders, including […]

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