For this case to unravel the way it did required that the Claimants pursue both the brokers and the firm as Respondents. That’s not terribly common in FINRA arbitration,
ET TU, MASSACHUSETTS? SECRETARY GALVIN ANNOUNCES INTENTION TO CRAFT FIDUCIARY RULE. Following the leads of Connecticut, Maryland, Nevada, and New Jersey, Massachusetts announced its intention to move ahead with its own fiduciary rule.
The SEC will be voting on approving Reg Best Interest and related proposed regulations at an open meeting on June 5.
As our readers and followers know,
FINRA’s Board of Governors met on May 6-7 to consider an array of financial, regulatory and enforcement reports and issues. Prior to this regular meeting of the Board,
FINRA has issued a Regulatory Notice seeking comments on Rule changes aimed at better protecting investors from firms with significant regulatory histories. Arbitration is prominently mentioned throughout.