Broker-Dealer Registration

FINRA’s National Adjudicatory Counsel (“NAC”), recently, affirmed a disciplinary panel decision significantly sanctioning a broker-dealer for paying unregistered persons and entities.  See https://www.finra.org/sites/default/files/2020-07/NAC_2014042606902_Silver-Leaf_062920.pdf.

FINRA alleged, among other things, that a
Continue Reading TRANSACTION-BASED COMPENSATION REQUIRES REGISTRATION . . . PERIOD

NY State Attorney General Targets Finders and Business Brokers in Pandemic Rule-Making


Continue Reading Fox Rothschild’s Securities Industry Group Members Ernie Badway and Alex Kerzhner Publish Alert on NYSAG’s Pandemic Rule-Making on Finders and Business Brokers

The SEC recently announced that an equity advisory firm and its owner agreed to pay more than $3.1 million to resolve charges that they improperly engaged in brokerage activity, as
Continue Reading To be a broker-dealer or not to be; that is the SEC’s question

Over the years that I have defended broker-dealers and investment advisors, a more robust overview of outside business activity (OBA) disclosures would have gone a long way to disprove a
Continue Reading Who Wants To Know How OBA Disclosures Can Save Your Firm?

As you may know, FINRA, last April, launched a senior helpline to address issues pertaining to senior investors. According to recent reports, FINRA received calls on many different issues such
Continue Reading Who still thinks FINRA is not interested in elder investor issues