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 […]Read Post
Tim O'Connor's Blog
FINRA Upgrades its BrokerCheck Stockbroker Online Search Website
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 […]Read Post
Ponzi Schemes, Private Placements and Pickpockets
Hundreds of millions of dollars have flowed out of Capital Region households in the past decade for investment into private placement investments. So, what is a private placement investment, anyway? Private placements are investments which claim exemption from the registration requirements of the federal securities laws, thereby bypassing the more rigorous, legal, financial, accounting, and […]Read Post
Immediate Annuities? FINRA Cautions Seniors on Immediate Annuity Fraud.
Although immediate annuities are oftentimes sold as a simple, straightforward, guaranteed investment, they can be packaged with many different forms and features. For example, Immediate annuities such as variable annuities are hybrid products, given their dual characteristics of being both insurance products and securities products. Immediate annuities and immediate annuity products packaged in a variable […]Read Post
THE RIGHTS OF INVESTORS PREVAIL IN NEW YORK STATE COURT OF APPEALS (ASSURED GUARANTY (UK), LTD. V. JP MORGAN INVESTMENT MANAGEMENT, INC.)
New York small investors score victory in Assured Guaranty (UK), Ltd. v. J.P. Morgan Investment Management, Inc. As a follow up to our earlier blog dated August 1, 2011, on December 20, 2011 New York State Court of Appeals affirmed the order of the lower court dismissing the efforts of J.P. Morgan Investment Management, Inc., […]Read Post
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