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Rating:FINRA Wants Firm Change Bonus Disclosures Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 12, 2013

FINRA Wants Firm Change Bonus Disclosures

News summary by MFWire's editors

FINRA made a proposal that requires brokers getting bonuses to switch firms disclose that information to clients they attempt to bring with them to the new firm, Reuters' Suzanne Barlyn reports. It will be discussed on September 19.

FINRA Chairman and Chief Executive Richard Ketchum said that the disclosure would let investors know of a conflict of interest in their brokers' decision to ask them to switch firms, Barlyn reports. It's important investors know this, Ketchum said, because a firm switch could cost investors a pretty penny, as they may have to sell some securities the other firm doesn't have, like brokerage-branded mutual funds.

To read more, click here.  

Edited by: Casey Quinlan


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