FINRA Lawyer Blog




FINRA Plans to Crack Down on High-Risk Brokers, Are You at Risk?

FINRA Plans to Crack Down on High-Risk Brokers, Are You at Risk?

In conversation with Chip Jones, FINRA’s Senior Vice President of Member Relations and Education, Mike Rufino, Executive Vice President and Head of FINRA Member Regulation—Sales Practice expanded on Robert Cook’s 2018 Priorities Letter, which was released during the first days of...

FINRA Rules 2165 & 4512 - Elder Abuse in the Securities Industry

FINRA Rules 2165 & 4512 - Elder Abuse in the Securities Industry

Based on research conducted by the National Center on Elder Abuse, 16% of elder abuse was caused by financial exploitation, which ranked third followed right after self-neglect and neglect by others. This percentage had increased from 12.3% since 2001; however, elder abuse is vastly under reported....


Morgan Stanley No Longer Bound by the Protocol for Broker Recruiting

Morgan Stanley No Longer Bound by the Protocol for Broker Recruiting

In a move that could be categorized as ‘seismic,’ Morgan Stanley has decided to quit the Protocol for Broker Recruiting. Originated in 2004, the document created a methodology to engineer the departure of brokers from one firm to join another.
Since then, it has protected...

SEC Enforcement Actions and Fines Plummet Under Trump

SEC Enforcement Actions and Fines Plummet Under Trump

Much has been said about the Trump’s administration effect on the SEC’s regulatory activities. Now, hard data confirms what we all suspected: under Trump, the Securities Exchange Commission has brought fewer enforcement actions and reduced its financial sanctions.
A new study by a...


Former UBS Broker Wins $3 Million in Defamation Case

Former UBS Broker Wins $3 Million in Defamation Case

A FINRA arbitration panel has just awarded James L. Springer Jr.; a Sarasota investment adviser, $3 million in damages, to be paid by his former employer, UBS. Springer, who managed  $350 million in client assets during his 12 years with the company, claims UBS defamed him in a desperate...


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