Ensuring Compliance with FINRA’s Trusted Contact Rule

Ensuring Compliance with FINRA’s Trusted Contact Rule

BACKGROUND In 2018 FINRA introduced the trusted contact rule. It requires that broker-dealer firms make reasonable efforts to identify a “trusted contact,” a person to contact if the firm has a concern that the client is incapacitated or is the target of a scam. It is...
The DOL Fiduciary Rule and Direct Mutual Fund Business

The DOL Fiduciary Rule and Direct Mutual Fund Business

The final Department of Labor fiduciary ruling was enacted this past April, with full implementation scheduled for April 10, 2017. While some have speculated that President-elect Donald Trump may try to repeal or at least delay the rule, betting on this can leave you potentially unprepared to comply on day one.

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