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brokers

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SIFMA tests firms to see if they can withstand a cyber attack

By | November 15th, 2019|Categories: Uncategorized|Tags: , , , , |

Brokers and firms found out if they were well prepared against a cyber security attack in early November 2019. The Securities and Financial Markets Association (SIFMA) tested hundreds of people in the securities industry on November 7, 2019 with its Quantum Dawn V test. The test is a simulated cyberattack and tests how well firms [...]

Brokers to be tested by FINRA for Regulation Best Interest “preparedness reviews”

By | November 12th, 2019|Categories: FINRA|Tags: , , , , |

Brokers and firms should be familiar with the Regulation Best Interest (RBI) plan, implemented by the U.S. Securities and Exchange Commission (SEC). Firms have until June 30, 2020 to comply with RBI. Here’s a checklist to make sure your firm is compliant. Brokers who haven’t looked at the checklist may want to take a quick [...]

What brokers need to know about Form CRS Relationship Summary

By | November 4th, 2019|Categories: FINRA|Tags: , , , |

By June 30, 2020, brokers and firms will be required to issue a Form CRS Relationship Summary to customers. The Form CRS by the Financial Industry Regulatory Authority will require brokers and firms to tell clients how they’re monitoring investments, what services are offered, fees, costs, potential conflicts and other vital information needed to make [...]

FINRA protects investors, brokers in the securities industry – Part 2

By | October 16th, 2019|Categories: Uncategorized|Tags: , , , , |

For investors, brokers and firms who are more flexible and looking for a faster solution, FINRA also provides mediation between two disputing parties. Mediation is an informal process where a “trained, impartial mediator facilities negotiations between disputing parties, helping them find a mutually acceptable solution,” according to FINRA. For a mediation to be successful, both [...]