Articles Posted in FINRA Regulation

On October 24, 2012, Susan Axelrod (FINRA’s executive vice president, member regulation sales practice) spoke at PLI’s seminar for broker-dealer regulation and enforcement. Broker-dealers and registered representatives should take note because FINRA’s enforcement agenda was made clear. Issues of concern for FINRA include: Cyber Security FINRA has seen an uptick in instances where a customer’s…

FINRA recently released an Acceptance, Waiver and Consent signed by Deutsche Bank Securities, Inc. (FINRA Matter No. 2010023096302). The AWC is instructive because it speaks to supervisory review of electronic correspondence and should be considered by broker-dealers when crafting a lexicon-based search system for electronic correspondence. Background Facts Deutsche Bank’s Private Client Services division has…

FINRA issued its summary of disciplinary actions reported for June 2012. Certain actions are noteworthy and are indicative of regulatory trends effecting broker-dealers and registered representatives. Herskovits PLLC comments on the following regulatory actions: Net Cap Violations Freedom Investors Corp. (CRD #23714, Brookfield, Wisconsin), Joel ReidBlumenschein (CRD #1372334, Registered Principal, Pewaukee, Washington) and Gary Lee…