Testimony by Vice Chairman Stephen Luparello Before the Subcommittee on Securities, Insurance, and Investment
The FINRA Board of Governors will consider the following rulemaking items at its February 2013 meeting.
Reg BI and Form CRS
Communications with the Public
Private Placements
Variable Annuities
Previous:
Fixed Income Mark-up Disclosure
Up:
Communications and Sales
Next:
Reg BI and Form CRS
Private Placements and Public Offerings Subject to a Contingency
Firm Made Misrepresentations to Customers and Violated Reg BI as well as FINRA’s Suitability and Supervision RulesWASHINGTON—FINRA announced today that it has expelled broker-dealer SW Financial for multiple violations, including making misrepresentations to customers in its sales of private placement offerings of pre-initial public offering (pre-IPO) securities, churning customer
Communications with the PublicReg BI and Form CRSPrivate PlacementsAnnuities Securities ProductsPrevious:Member Firms’ Nexus to CryptoUp:Communications and SalesNext:Communications with the Public
This proposed legislation makes no sense to me. Every investment caries risk. In fact, most stocks are a poor investment choice. Right now even the PURCHASE OF A HOME is probably a terrible investment choice. Nevertheless, as a citizen I am under the impression that it is still my right to make my own choices regarding how I invest my money.
I think it is absurd to presume that only a "
Summary
FINRA’s CAB rules provide a simplified rulebook for broker-dealers that engage only in limited capital advisory, corporate restructuring and private placement activities. FINRA is requesting comment on proposed amendments to the CAB rules to make them more useful to CABs without reducing investor protection.
The proposed rule text is available in Attachment A.
Questions
The Observations on Liquidity and Credit Risk Management section of the 2019 Report on Exam Findings informs member firms’ compliance programs by describing recent findings and observations from FINRA’s examinations, and, in certain cases, also providing a summary of effective practices.
Joint sales efforts by member firm and non-member real estate firm of private placements in real estate condominium complexes raise the question of whether the realtors or persons acting on behalf of the issuer would be required to register as broker/dealers.
