FINRA Issues New Guidance Easing Broker to Client Contact in the Event of Transition

On April 5, 2019, the Financial Industry Regulatory Authority (“FINRA”) issued Regulatory Notice 19-10, which clarifies conduct regarding how brokerage firms and brokers should communicate with clients in the event a broker transitions to a new firm. FINRA Regulatory Notice 19-10 makes two key points: in the event of a registered representative’s departure, the member firm should promptly and clearly communicate to affected customers how their accounts will continue to be serviced; and the firm should provide customers with timely and complete answers, if known, when the customer asks questions about a departing registered representative. Continue reading

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