Top 10 hottest trends in the IBD industry
A Financial Industry Regulatory Authority Inc. rule that would shed light on broker recruiting incentives is in the final leg of its journey this year.
First proposed almost three years ago, the measure originally would have required brokers to disclose the details of their compensation to clients they were trying to persuade to move with them to a new firm. After strong resistance from the financial industry, Finra revised the rule so that brokers would have to send an "educational communication" to clients outlining questions they should ask about their broker's pay.
Comments were due to the SEC, which would have to approve the rule, last Thursday.