On December 7, the UK Financial Conduct Authority (FCA) published a consultation paper on product intervention measures for retail binary options.
The FCA is proposing to prohibit the sale, marketing and distribution of binary options in or from the UK to retail consumers by creating new rules in its Conduct of Business sourcebook (COBS).
Continue Reading FCA Publishes Consultation Paper on Product Intervention Measures for Retail Binary Options
On April 18, the Securities and Exchange Commission proposed a new rule under the Securities Exchange Act of 1934, creating a standard of conduct for registered broker-dealers who make recommendations of securities transactions or investment strategies involving securities to a retail customer. The best interest standard requires broker-dealers to act in the best interest of the retail customer at the time a recommendation is made, without placing the interests of the broker-dealer ahead of the interest of the retail customer.
Continue Reading SEC Proposes Best Interest Standard for Broker-Dealers
On October 26, the Financial Industry Regulatory Authority announced that the Securities and Exchange Commission approved amendments to the FINRA rules governing communications with the public. The amendments revise the filing requirements in FINRA Rule 2210 (Communications with the Public) and Rule 2214 (Requirements for the Use of Investment Analysis Tools) and the content and disclosure requirements in Rule 2213 (Requirements for the Use of Bond Mutual Fund Volatility Ratings). The amended rules will go into effect on January 9, 2017.
Continue Reading SEC Approves Amendments to Rules Governing Communications With the Public
