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Are You Making “Suitable” Recommendations?

The Financial Industry Regulatory Authority (FINRA) views its mandate as investor protection and as such, they have given notice that a new suitability rule, Rule 2111, will go into effect on July 9, 2012. As long as there have been investors and brokers, there have been people who…
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Regulators probe bank’s role in Facebook IPO

Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst’s negative report about the company before the stock started trading. Rick Ketchum, the head of the Financial Industry Regulatory Authority, the self-policing…
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NY top court weighs claim from investment

French investors urged New York’s top court on Wednesday to reinstate their lawsuit over losing $43 million out of $50 million they put into two structured investment vehicles. The investors claim Barclays Bank, Standard & Poor’s and two management companies were complicit in leaving investors with plummeting securities…
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