Month: February 2016
FINRA Issues Guidance on Best Execution Obligations
In FINRA Regulatory Notice 15-46 the Financial Industry Regulatory Authority (FINRA) clarifies the best execution obligations of a broker dealer when executing customer orders in publicly traded securities. This notice details the obligation of a brokerage firm to “regularly and rigorously examine execution quality likely to be obtained from the different markets, trading and security.” […]
Read PostFINRA Issues Guidance on Interpretation of FINRA’s Margin Rule
In November of 2015 FINRA Regulation issued further guidance regarding FINRA Rule 4210, which sets forth the margin requirements for calculating the required amount of collateral to be maintained by customers in their margin accounts. This guidance includes both strategy-based margin accounts, as well as portfolio margin accounts and also addresses the margin requirements for […]
Read PostSEC Issues Investor Bulliten on Variable Annuities
On November 5, 2015 the Securities and Exchange Commission issued an Investor Bulletin entitled “Variable Annuities – An Introduction.” This publication of the SEC Office of Investor Education Advocacy follows on the heels of prior publication of the Financial Industry Regulatory Authority (FINRA) including Regulatory Notices and Investor Alerts warning investors about the pitfalls of […]
Read PostBest Execution Failure by Two Brokers Results in SEC Bar
Their press release dated October 28, 2015 the SEC disclosed the bar of two brokers involved with favoring certain customers in certain securities purchase transactions while also garnering extra commissions for their firm in the process. As indicated in the SEC’s Administrative Decision in Administrative Proceeding File Number 3-16930, the duty of best execution “requires […]
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