Posts tagged unregistered persons.
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FINRA Rule 2040 Goes Into Effect
On August 24, 2015, FINRA Rule 2040 concerning payments to unregistered persons went into effect. The rule, approved by the SEC in January 2015, is aligned with § 15(a) of the Securities Exchange Act of 1934. Generally, FINRA firms or associated persons are forbidden from "paying any compensation, fees, concessions, discounts, commissions or other allowances" to persons not registered as broker-dealers under § 15(a) but who are required to be registered (as a result of receiving such compensation) or appropriately-registered association persons outside of compliance with ...
Posted in: FINRA, SEC
Tags: burr forman, Financial Industry Regulatory Authority, finra, FINRA Rule 2040, SEC, Securities and Exchange Commission, Securities Exchange Act of 1934, securities litigation, Securities Litigation & Arbitration, unregistered persons
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