Posts tagged Recruiting-Disclosure Rule.
On December 16, FINRA submitted for SEC approval proposed Rule 2273 to require that brokers send customers an "educational disclosure" when changing firms. Although the proposal deletes a controversial provision that would have required disclosure of hiring bonuses, it requires hiring firms to deliver the FINRA-prescribed disclosure form when contacting former customers about account transfers or receiving their transferred funds. The Rule would require the communication to accompany mailings, be hyper-linked in emails, or sent within three business days after phone ...
Posted in: FINRA, SEC
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