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SEC approves Finra rule to rein in rogue brokerages
The rule requires firms with a history of misconduct or that employ a high number of reps with disciplinary records to deposit cash into an account controlled by the Financial Industry Regulatory Authority Inc.
Wandering financial advisers must be corralled, but who will break them in?
The industry finally has the data about rogue brokers who take refuge in the land of insurance sales, and the picture is pretty ugly.
Critics say Finra proposal to rein in rogues falls short
Under the measure, which the Financial Industry Regulatory Authority Inc. first released in May 2019, the broker-dealer self-regulator would use numeric thresholds for regulatory disclosures to identify firms that pose a heightened risk to investors.
Finra rule would require stronger supervision of rogue brokers
The proposal allows hearing officers to impose additional supervision requirements for brokers involved in disciplinary matters
