Recent News
Alert: Common “Best Execution” Deficiencies in Recent Examinations
The SEC has highlighted frequent “best execution” deficiencies found in some recent examinations of investment advisers. As described in a new Office of Compliance Inspections and Examinations (“OCIE”) Risk Alert, investment advisers have a fiduciary obligation to seek “best execution” of client transactions.
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FINRA Dispute Resolution Updates (and More)
FINRA recently issued a new fraud warning to member firms, highlighted certain changing rules and procedures for arbitrators, reminded arbitrators to stay current on their disclosures and offered up year-to-date statistics on dispute resolution. Bates Research has a summary.
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Private Placements Drawing Attention
A recent analysis undertaken by the Wall Street Journal found that securities firms selling private placement investments employ an “unusually” high number of high risk brokers. The reporting has raised red flags for regulators who have committed themselves and their agencies to weeding out bad actors and recidivist brokers. Such scrutiny comes at the close of the comment period for FINRA’s “bad actor” rule proposals. Bates has the latest developments.
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