FINRA Audits: What to Expect and How to Prepare

FINRA Audits: What to Expect and How to Prepare

Did you know that FINRA conducts between 1,500 and 2,000 audits a year? The Financial Industry Regulatory Authority (“FINRA”) delivers audits and regulation services to the financial industry. As a Self-Regulatory Organization (“SRO”), FINRA works closely with the Securities and Exchange Commission and enforces securities regulations. When your firm is due for an exam, FINRA assigns a Regulatory Coordinator who…

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Why and When Registered Representatives Should Consider Seeking Expungement

Why and When Registered Representatives Should Consider Seeking Expungement

Expungement is the removal of certain disclosure events on a registered representative’s record – primarily customer complaints and arbitrations, and in some instances employment termination explanations. Once a disclosure event is expunged, it is no longer accessible by prospective employers or by the general public. Financial advisors should consider seeking expungement to: Protect Your Reputation. All disclosures listed on FINRA’s…

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Ponzi Schemes: 7 Warning Signs from the SEC

Ponzi Schemes: 7 Warning Signs from the SEC

Do you know how to spot Ponzi Schemes? Are you aware of the warning signs? Recently, a Long Island firm lied to investors about having connections to Jay Z’s entertainment company, Roc Nation, and allegedly defrauded investors out of $70 million. More details can be found here. In furtherance of the above, please find additional information related to Ponzi schemes,…

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Advisors: Things to Consider when Transitioning Firms

Advisors: Things to Consider when Transitioning Firms

Did You Know That Advisor Recruitment is at a Four-Year High? According to data compiled by On Wall Street, despite the recent decision by certain wirehouses to significantly reduce recruiting, recruitment is at a four-year high and remains strong. Recruiters say that the continued strength in recruiting is due to regulatory uncertainty, an aging advisor population, and the expiration of…

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