FINRA Implements New Rules April 3, 2017

Effective April 3, 2017, the Financial Industry Regulatory Authority (“FINRA”) will be implementing several new rule changes to both the customer and industry codes (“Rules”).  While the rule changes focus on the use of FINRA’s web based DR-Portal (“Portal”), there are a few additional broader changes that practitioners should be aware. As of the effective date, all represented parties must…

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SEC Staff Issues Guidance on Robo-Advisers

The Securities and Exchange Commission’s Division of Investment Management (“SEC”) recently published information and guidance for investors and the financial services industry on the use of automated advisers, or robo-advisers, which are registered investment advisers (“RIA”) that use computer algorithms to provide advisory services with limited human interaction. Robo-Advisers are subject to the same fiduciary obligations under the Investment Advisers…

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