Finra has published guidance for Investment Advisors at non-member firms who wish to utilize the Finra Dispute Resolutions platform. (Finra) You can see our previous coverage of this here. The full text is below: FINRA Dispute Resolution has received inquiries from lawyers who represent investors and those who represent investment advisers (IAs) which are not…
Bruce Kelly, of InvestmentNews, reports that Finra will soon open its dispute resolution arbitration platform to registered investment advisors. (IN) This is good news for RIA investors because those arbitrations have typically been heard in AAA or JAMS forums, which are much more expensive. RIA firms may also welcome the lower costs. Finra Dispute Resolution…
As a result of the Dodd-Frank legislation, hedge fund, private equity fund and other fund managers are having to register as Investment Advisors with the SEC. This is a significant development as trillions of assets are now coming under the aegis (and scrutiny) of the SEC. We will have more commentary on this later, but…
Melanie Waddell of AdvisorOne reports that SEC Commissioner Daniel Gallagher has been casting rhetorical aspersions on Finra’s ability to regulate RIAs. (AdvisorOne) Here’s a taste: “Is FINRA becoming a ‘deputy SEC’?” Gallagher, a Republican, asked during a recent speech at a Securities Industry and Financial Markets Association conference. “With all of the issues facing the…
The Observer has always published interesting, if not quirky, financial reporting. Here’s a serious piece on the fiduciary standard battle currently raging across the financial industry. A surprising number of heavy hitters are putting their two cents in – from many different walks of life.
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