The ‘chilling effect’ of FINRA’s broker bonus rule
April 23, 2014 by Janet Levaux
The SEC has just ended its comment period for a proposed rule requiring disclosure and reporting of recruitment deals. While several wirehouse and large independent broker-dealers have mixed views on the potential regulation — and suggest major changes — a group of about 150 independent advisors has given the proposal, referred to as Rule 2243, a big thumbs-down.
A key objection of the advisors is that the rule would “stifle competition and threaten succession planning,” according to a letter that was sent separately by 150 advisors and entities to the SEC before Friday.
Originally Posted at LifeHealthPro on April 23, 2014 by Janet Levaux.
Categories: Industry Articles
