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CFP Board Issues New Procedural Rules Supporting June 30 Enforcement of Final Fiduciary Rule. And FINRA Is Gearing Up for Reg BI
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By George H. Friedman, SAA Editor-in-Chief

As the June 30 enforcement date of the SEC’s Regulation Best Interest (“Reg BI”) approaches, various preparatory steps are rolling out by the regulators.

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Anatomy of an Explained AAA Award: “Oh, What a Tangled Web We Weave….”
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Guest author Harry A. Jacobowitz, Esq., analyzes for us an explained AAA Award featuring the largest damages since 2018 and the Arbitrator’s detailed explanation (as requested by the parties) of liability and damages in favor of a hedge fund against its fired portfolio manager.

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SEC Approves FINRA’s Minimum Expungement Fees Rule Filing
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By George H. Friedman, SAA Editor-in-Chief

No sooner had we reported in SAA 2020-19 (May 20) that FINRA Dispute Resolution Services (“DRS”) had responded to comments on its proposed new fee regime specifically for expungement requests,

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Massachusetts Adopts Fiduciary Regulation
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By Christine Lazaro, Professor of Law & Clinic Director
St. Johns Law School

This analysis was prepared by SAA Advisory Board Member Prof.

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After Moving at a Snail’s Pace, FINRA’s Proposed Changes to the Membership Program To Encourage Arbitration Award Payment Switch to the Express Lane
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By George H. Friedman, SAA Editor-in-Chief

Back in mid-2017, FINRA’s Board authorized staff to publish a Regulatory Notice seeking comments on a proposal to amend the Authority’s Membership Application Program (“MAP”) rules to create further incentives for the timely payment of arbitration awards.

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NASAA’s “E&O Insurance Survey” Makes Case for E&O Insurance as a Treatment for Unpaid Awards 
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Calling it a “key focus for the North American Securities Administrators Association,” NASAA’s Broker-Dealer Section reports, in a 10-page Study released on December 11,

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