Every year, FINRA publishes its Annual Regulatory and Examination Priorities Letter to help its members understand where FINRA intends to focus its reviews during the coming year.  The letter is a must-read for FINRA members, compliance personal, supervisors, and those who provide advice about regulatory exams and related litigation. Among the issues discussed in the…

On October 23, 2016, CBS’s 60 Minutes ran an informative piece on investment fraud suffered by current and former NFL players at the hands of a financial advisor.  According to 60 Minutes, the players invested a total of $51 million in a gambling development in Alabama called Country Crossing.  Country Crossing was designed to lure…

The Financial Industry Regulatory Authority (FINRA) oversees broker-dealers and their licensed registered representatives.  FINRA rules surrounding U-4 and U-5 filings require FINRA members to report customer complaints, regulatory investigations and, under some circumstances, conduct outside of the workplace.  FINRA mandated reporting provides important information primarily to three constituencies:  (1) investors who seek information about their investment advisors; (2) prospective employers…

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