On behalf of Lewitas Hyman PC | Aug 13, 2020 | CFP Board, Financial News
The CFP Board has begun to enforce its updated Code of Ethics and Standards of Conduct (“Code of Ethics and Standards”) that went into effect on October 1, 2019. The new Code of Ethics and Standards is the culmination of five years of work by the CFP Board to...
On behalf of Lewitas Hyman PC | May 15, 2020 | Financial Advisor Misconduct, Financial News
As losses have continued to mount for investors, claims against UBS are accelerating. Recent reporting indicates that investment losses from the Yield Enhancement Strategy (YES) could exceed $1 billion as investors pursue legal action against the wealth management...
On behalf of Lewitas Hyman PC | Jul 10, 2017 | Financial News
FINRA recently filed a proposed rule change with the SEC to amend Rules 13100 and 12100 of the FINRA Code of Arbitration Procedure to simplify the definition of a non-public arbitrator and to address an eligibility gap that has been preventing certain otherwise...
On behalf of Lewitas Hyman PC | Mar 20, 2017 | Financial News
Effective April 3, 2017, the Financial Industry Regulatory Authority (“FINRA”) will be implementing several new rule changes to both the customer and industry codes (“Rules”). While the rule changes focus on the use of FINRA’s web based DR-Portal (“Portal”), there...
On behalf of Lewitas Hyman PC | Mar 10, 2017 | Financial News
The Securities and Exchange Commission’s Division of Investment Management (“SEC”) recently published information and guidance for investors and the financial services industry on the use of automated advisers, or robo-advisers, which are registered investment...
On behalf of Lewitas Hyman PC | Feb 10, 2017 | Financial News, Investment Loss
The Securities and Exchange Commission (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) recently released its annual Examination Priorities. It focuses on practices, products, and services that present potentially heightened risk to investors and/or...
On behalf of Lewitas Hyman PC | Jan 10, 2017 | Financial News, FINRA Compliance
The Financial Industry Regulatory Authority (“FINRA”) published its annual Regulatory and Examination Priorities letter, concentrating on specific areas of focus within five broad areas – high-risk and recidivist brokers, sales practices, financial risks, operational...
On behalf of Lewitas Hyman PC | Dec 10, 2016 | Financial News, FINRA Compliance, Regulatory Investigations
The SEC approved amendments to FINRA Rule 12403 of the Code of Arbitration Procedure for Customer Disputes, increasing the number of arbitrators on the public arbitration list from 10 to 15, and increasing the number of strikes to that same list from four to six. The...
On behalf of Lewitas Hyman PC | Nov 10, 2016 | Expungement Claims, Financial News
A FINRA arbitration panel out of Louisville, Kentucky recently granted the request of former UBS registered representative Harry M. Hadden III (“Hadden”) to expunge eight (8) customer complaints from his Central Registration Depository (“CRD”) record related to the...
On behalf of Lewitas Hyman PC | Oct 10, 2016 | Financial News, Firm Transition
FINRA Rule 2273 (“Rule 2273”) becomes effective on November 11, 2016, after initial approval by FINRA in March of this year. Rule 2273 requires all FINRA member firms that recruit a registered representative after November 11, 2016 to deliver a FINRA-created...
