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The SIPA | 2013 | January

The SIPA

The Blog Of The Securities Industry Professional Association
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Archive for January, 2013

Comp Rule Puts FinraBetween Broker and Client

 By  Dock Treece With 2013 barely underway, Finra has wasted no time in proposing onerous new rules and regulations for member firms. One such rule was recently released for comment with Regulatory Notice 30-32, the so-called “broker compensation rule.” Essentially the firm introduces a new requirement for registered representatives who are recruited away from one […]
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SEC DISMISSES GOBLE CASE

UNITED STATES OF AMERICA before the SECURITIES AND EXCHANGE COMMISSION  SECURITIES EXCHANGE ACT OF 1934 Release No. 68651 / January 14, 2013 Admin. Proc. File No. 3-14390   In the Matter of RICHARD L. GOBLE  ORDER DISMISSING PROCEEDING   I.   Richard L. Goble, the founder of North American Clearing, Inc., formerly a broker-dealer registered […]
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Comment needed for latest FINRA proposal

 Your voice does count but only if you use it.   FINRA recently proposed the following rule to members:   Regulatory Notice 13-02 FINRA Requests Comment on a Proposed Rule to Require Disclosure of Conflicts of Interest Relating to Recruitment Compensation Practices  Comment Period Expires: March 5, 2013 Executive Summary Many member firms offer significant […]
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Broker Protection Reform Needed

Its time to protect the reps from theft  On a monthly basis it seems we read another story about how the owner of a B/D shut his doors, filed a BD withdrawal and then decided to keep last month’s entire production and not pay out their brokers.  In a recent case a Firm owner from […]
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