The Bizarre Recruiting Case of Alfonso Montoya
A $150 million book of business Wells Fargo promised him never materialized — and then the wirehouse took him to arbitration.
FINRA’s Big-Brokerage Loyalty Revealed in New Bonus Plan: Lawyer
The proposal, which curtails mandatory disclosures, should "leave no doubt" where FINRA’s loyalties lie, lawyer Patrick Burns says; recruiter Jon Henschen argues disclosure is pointless.
FINRA Mulls Revised Broker Bonus Plan
FINRA plans to consider a revised recruitment practices proposal that looks to omit the controversial retention deal aspect of the original plan.
FINRA Appoints Arbitration Task Force
FINRA appointed a 13-member arbitration task force Thursday to consider possible enhancements to its arbitration forum.
What FINRA’s Top Execs Earn: ‘Living Large’
Last year was a solid one for FINRA — and the top executives’ pay packages weren’t too shabby, either.
Several notable compliance-related measures have been approved—or tabled—by the Securities and Exchange Commission, Financial Industry Regulatory Authority and state securities regulators over the past couple of months that should be on advisors’ and brokers’ radar.
Broker Bonus Plan: Death by Delay?
FINRA’s decision to postpone considering a rule to require that brokers’ recruitment bonuses be disclosed when they switch firms has one industry attorney speculating the rule may be on the chopping block.
White Pledges to Weigh Cost of Fiduciary Rule as Ketchum Revives SRO Fight
Just as incoming Securities and Exchange Commission (SEC) Chairwoman Mary Jo White has pledged to lawmakers that she would carefully weigh the costs of a fiduciary rulemaking, Richard Ketchum, CEO of the Financial Industry Regulatory Authority (FINRA), is renewing his call for a self-regulatory organization to oversee advisors.
Wirehouses Embrace FINRA Broker Bonus Plan
Three wirehouses have given their OK to FINRA’s plan to require that brokers’ recruitment packages be disclosed when they switch firms.
FINRA’s Broker Bonus Rule Seen as ‘Done Deal’ With SIFMA OK
Securities lawyer Patrick Burns told AdvisorOne that with SIFMA's support, the “proposal’s chances of becoming a new rule seem to be a done deal.”