5th Circuit Court of Appeals Ruling on DOL Rule – What does it mean?
Skating to where the puck is - More law suits, more appeals, more politics, more internal meeting and changing direction.
Skating to where the puck is going to be - What do BDs need to do?
Do’s and Don’ts
FINRA and SEC 2018 Priorities Excerpt
FINRA 2018 Annual Regulatory and Examination Priorities Letter
FINRA will focus on:
1) Examination of the controls Firms have in place to meet suitability obligations.
FINRA provided the following guidance on the vetting process:
2) Firm’s handling of products where FINRA has observed firms experiencing problems implementing effective controls:
3) Accounts being transferred from front-end sales charge products in brokerage accounts to fee-based accounts.
SEC 2018 National Exam Program Examination Priorities
SEC will focus on:
1) Services & products sold to Senior Investors with retirement accounts.
2) Sales of Mutual Funds & ETFs to Retail customers. Focus on:
Mutual Funds that have experienced poor performance or liquidity (subscriptions & redemptions relative to peer group.
Product research (or due diligence) departments have typically focused on Alternative Investments...