Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
The brokerage regulator settled two cases related to the SEC’s rule this week; one securities attorney believes FINRA has now established itself as the “primary regulator” of the rule.
Dawson James Securities failed to retain more than 10,000 business-related texts, including consumer complaints and client conversations, over 10 years, according to FINRA.
The settlement with the self-directed trading firm comes several weeks after FINRA's first enforcement action targeting firms' use of social media influencers.
Supporters and critics of the proposed rule are setting up discussions with the Office of Management and Budget, one of the last steps before the final rule will be revealed.
