Recent months have seen a significant increase in litigation around, and regulatory scrutiny by the SEC and FINRA of, cash sweep programs offered to retail advisory clients and brokerage customers.
Many of these...more
10/22/2024
/ Bank Deposits ,
Breach of Duty ,
Broker-Dealer ,
Compensation ,
Disclosure Requirements ,
Duty of Care ,
Enforcement ,
FDIC ,
Financial Industry Regulatory Authority (FINRA) ,
Interest Rates ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
Money Market Funds ,
Regulation BI ,
Securities and Exchange Commission (SEC)
At a contentious open meeting on February 6, 2024, the Securities and Exchange Commission (Commission) voted three to two to adopt rule amendments (Final Rules) under the Securities Exchange Act of 1934, as amended (Exchange...more
The Proposed Amendments would permit FINRA members to include targeted returns or projected performance solely if the communication is either: (i) an “institutional communication” as defined in FINRA Rule 22102.; or (ii)...more