FINRA’s New Suitability Rule – Some Best Practices in Light of FINRA Rule 2111
Since FINRA implemented FINRA Rule 2111 (aptly named, the “Suitability Rule”) in July 2012, broker-dealers have been scrambling to update their internal systems and educate their brokers to prepare for the rigors of the rule change. Indeed, the Suitability Rule creates a totally ambiguous (and borderline impossible) standard that brokers are expected to meet before he […]
FINRA Stock Broker Expungement –A flawed system of unavoidable conflict between investor, broker, and broker-dealer.
When an investor files a complaint against his or her stock broker and/or broker-dealer, the broker-dealer must disclose the allegations made in the complaint on the underlying stock broker’s Central Registration Depository (“CRD”) record. These disclosures almost always become publicly available via FINRA’s BrokerCheck (” FINRA BrokerCheck“) system—an online database that provides information about current and […]
The Law Office of Patrick R. Mahoney opens in Manhattan Beach, CA
I am proud to announce that the Law Office of Patrick R. Mahoney is open for business. After more than three years of practice with a tremendous law firm, I am excited to use the skills I’ve developed to build a firm of my own. Based in Manhattan Beach, California, the firm promises to become […]