Tim O'Connor's Blog

The FINRA Office of Dispute Resolution has reported the filing of a number of claims by investors who have sustained losses as a result of short selling strategies recommended by their brokers.  So, what is a short sale anyway? Short selling involves the sale of shares of a stock in a publicly-traded corporation in a […]

In Regulatory Notice 12-08, effective January 26, 2012, the Financial Industry Regulatory Authority (IFNRA), citing the regulations of the Financial Crimes Enforcement Network (FINCEN) regarding Suspicious Activity Reports (SAR’s), now requires brokerage firms to make such SAR reports and supporting documents and information available to regulatory authorities.

In Regulatory Notice 12-05, the Financial Industry Regulatory Authority (FINRA) noted an increasing number of reports of customer funds stolen due to e-mail instructions received from compromised customer e-mail accounts.  The Notice highlights risks associated with non-genuine instructions to transmit or withdraw funds via e-mail.    The Notice includes a requirement of the implementation of […]

The Securities and Exchange Commission approved FINRA’s new Suitability Rule (FINRA Rule 2111) in November of 2010.  Since then, FINRA issued Regulatory Notice 11-02 announcing this approval and its requirements.  Additionally, FINRA Regulatory Notice 11-25 offers further guidance for Rule 2111, which has an implementation date of July 9, 2012.   The new Rule codifies previous interpretations […]

Investors seeking information about their brokers will now enjoy upgraded features on the FINRA BrokerCheck website, including the following: – Centralized access to licensing and registration information on current and former brokers, brokerage firms, investment adviser representatives and investment advisor firms. – The ability to search based upon both main office and branch office locations, as well […]