Through the Issuance of New Rules Aimed at Recidivist Brokers and the Firms That Hire Them, FINRA Loudly Exclaims to its Membership “Can you hear me now???”
By EsqSocial Corporation 19/05/21
Key Takeaways: ..After years of warning firms of the need for enhanced diligence in retaining or hiring brokers with a significant history of misconduct, FINRA has adopted new rules to address such brokers. ..As set forth in FINRA Regulatory Notice 21-09, member firms will be required to file a Continuing Membership Application (or alternatively seek a Materiality Consultation) when a natural person seeks to become an owner, control person, principal, or even a registered person with a...
By: Bryan Cave Leighton Paisner