In October of this year the Financial Industry Regulatory Authority (FINRA) submitted to the Securities and Exchange Commission (SEC) a proposal for a new rule, Rule 5123, which would have an impact on the offering of private placements. FINRA’s proposed Rule 5123, according to SEC documents, “would require that members and associated persons that offer [...]
According to canadiansecuritieslaw.com the Financial Industry Regulatory Authority (FINRA) recently “published proposed amendments to its rules that would require its members and associated persons that offer or sell private placements, as well as those that participate in the preparation of private placement memoranda, term sheets or other related disclosure documents in connection with a private [...]
2010. Standards of Commercial Honor and Principles of Trade A member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade. 2020. Use of Manipulative, Deceptive or Other Fraudulent Devices No member shall effect any transaction in, or induce the purchase or sale of, any [...]
Effective September 14, 2009, FINRA will begin expediting the administration of cases that solely involve a brokerage firm’s claim than an associated person (broker or financial advisor) failed to pay money owed on a promissory note. Under the new procedures, a single public arbitrator from the FINRA roster of arbitrators approved to hear statutory discrimination [...]