{"id":5907,"date":"2015-12-26T00:00:00","date_gmt":"2015-12-26T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/12\/finra_news_regulator_seeks_to"},"modified":"2022-05-17T14:01:27","modified_gmt":"2022-05-17T19:01:27","slug":"finra-news-regulator-seeks-to","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-news-regulator-seeks-to\/","title":{"rendered":"FINRA News: Regulator Seeks to Restrict Brokers\u2019 Political Contributions, Sends SEC Proposal Regarding Broker-Compensation, and Fines Firm $2.95M Over Inaccurate Blue Sheet Data"},"content":{"rendered":"\n

The Financial Industry Regulatory Authority (FINRA) is proposing rules that would limit how much in political contributions brokers would be allowed to make to avoid conflicts of interest. FINRA is now calling for feedback during the comment period regarding the proposed rule, which runs for 21 days after notice is published in the Federal Register. <\/p>\n

Under the proposed rule, brokers would have a contribution cap of $350 during an election year and $150 during any other year. Should a broker contribute beyond these caps, there would not be a penalty as long as a refund is issued within four months of the donation\u2019s receipt. A failure to satisfy exemptions will lead to a bar for the broker from being allowed to solicit a government entity or official for business purposes for two years after the donation was made. <\/p>\n

It was in 2010 that the U.S. Securities and Exchange Commission (SEC) adopted \u201cpay-to-play\u201d rules that placed investment advisers under the same limits. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory Authority (FINRA) is proposing rules that would limit how much in political contributions brokers would be allowed to make to avoid conflicts of interest. FINRA is now calling for feedback during the comment period regarding the proposed rule, which runs for 21 days after notice is published in the Federal Register. 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