On March 10, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-09 announcing FINRA’s adoption of new rules to address brokers with a significant history of misconduct and the broker-dealers that employ them.
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CAB rules
SEC Approves Changes to FINRA’s Suitability and Non-Cash Compensation Rules
On June 19, the Financial Industry Regulatory Authority (FINRA) issued a regulatory notice that it had amended its Capital Acquisition Broker (CAB) suitability rule and rules governing non-cash compensation to align with the Securities and Exchange Commission’s Regulation Best Interest (Reg BI) with respect to the requisite standards of conduct.
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FINRA Requests Comments on Proposed Amendments to the Capital Acquisition Broker Rules
On January 30, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 20-04 requesting comment on the proposed amendments to the Capital Acquisition Broker (CAB) rules.
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FINRA Files Proposed Rule Change to CAB Rules Governing Qualification, Registration and Continuing Education of Associated Persons of CABs
The Financial Industry Regulatory Authority (FINRA) is filing with the Securities and Exchange Commission a proposed rule change to amend the Capital Acquisition Broker (CAB) Rules governing the qualification, registration and continuing education of associated persons of CABs (CAB Rules 119-125). The proposed rule change reflects new consolidated FINRA qualification and registration rules and changes to its continuing education requirements, which took effect in October 2018.
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SEC Approves FINRA’s Capital Acquisition Broker Rules
The Securities and Exchange Commission has approved the Financial Industry Regulatory Authority’s new rules governing firms that meet the definition of “capital acquisition broker” (CAB) and elect to be governed by the new CAB rules. (The Corporate & Financial Weekly Digest edition of January 8, 2016 summarized FINRA’s proposed CAB rules.)
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