Moving Firms Maybe Getting More Difficult and Possibly Anti-Competitive?
The FINRA Board of Governors is considering implementing new rules that will require brokers to disclose their compensation when they move firms. In many respects, this will cause issues for those who...
View ArticleYou Need To Be Careful When You Depart As A Broker With Confidential...
Recently, a Texas appellate court upheld a common law prohibition against a former registered rep who had moved firms. The court indicated that this departing broker had a common law obligation to...
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So You Want To Change Firms — Part II
So you really want to change firms. Do you have a restrictive covenant or a non-compete? If so, your transition may be a little more complicated. To learn what restrictions may apply to you, check...
View ArticleNow Available Fox Rothschild’s National Survey on Restrictive Covenants –...
Fox Rothschild’s Securities Industry Group and Labor & Employment Department have updated the firm’s National Survey on Restrictive Covenants, a quick reference guide for in-house counsel and human...
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Is There Any Reason To Arbitrate Customer Complaints
On September 18, the SEC approved a FINRA proposal that essentially does away with the ability to have an industry arbitrator serve on your panel. So the question becomes, why bother arbitrating...
View ArticleRETIRED BROKERS MAY CONTINUE TO COLLECT COMPENSATION
The SEC’s Division of Trading and Markets assured a broker-dealer that a retiring registered representative would not risk enforcement action if, after termination of the employment, he or she...
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Should You Feel Better That FINRA Vetted Its Arbitrators
As a result of a couple high profile awards that were overturned because of issues with the arbitrators, FINRA has vetted its pool of arbitrators and has instituted new procedures to review...
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So Who Wants To Inherit A Book Of Business
Brokers like anyone else enjoy making money the old fashioned way . . . . by inheriting it. Although everyone wants to inherit business, a recent Investment News article highlighted the pitfalls...
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Is This A Preview of FINRA’s Approach to Rule 3110(e)
In a recent Acceptance, Waiver and Consent (“AWC”) a broker dealer was censured and fined for, among other things, the failure to conduct an adequate pre-hire investigation of a registered...
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