by commune | Jun 12, 2018 | Other News, Securities
FINRA Rule 2111 requires a broker to have a reasonable basis to believe that a recommended security transaction or investment strategy is suitable for the customer. The “quantitative suitability” component of Rule 2111 (prohibiting “churning”) also requires that...
by Stacey Garrett | Jun 2, 2018 | KYL Technology News, Other News, Privacy & Data Security, Securities
Wondering how organizations can comply with both U.S. records retention laws and the Global Data Protection Regulation’s “right of erasure?” Keesal, Young & Logan shareholder Stacey Garrett analyzes the issue in this feature published in Cybersecurity Law &...
by commune | May 15, 2018 | Other News, Securities
Keesal, Young & Logan attorneys Steve Young and Kate Handy recently assisted a major broker-dealer in obtaining a conservatorship over three valuable accounts of a 91-year-old customer who had been diagnosed with Alzheimer’s Dementia. The broker-dealer’s internal...
by commune | May 14, 2018 | Other News, Securities
Two significant new rules affecting securities firms take effect immediately. First, as of Friday May 11, 2018, FinCEN’s Customer Due Diligence Requirements for Financial Institutions (“CDD Rule”) requires FINRA members to identify and verify the beneficial owners of...
by commune | Apr 19, 2018 | Other News, Securities
On Wednesday, the SEC released its proposal for “Regulation Best Interest” which, if approved, will bring about changes to the standards governing financial services firms and professionals serving retail investors. The SEC’s goal is to provide retail investment...
by commune | Apr 16, 2018 | Other News, Securities
The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) recently published a Risk Alert highlighting common errors advisers make regarding the fees and expenses charged to clients. According to the OCIE, these errors may be violations under the...
