Blog

Aidikoff, Uhl & Bakhtiari files Securities and Exchange Commission comments on FINRA Rule 2081 regarding expungement

May 5, 2014

Aidikoff, Uhl & Bakhtiari partners, Philip M. Aidikoff and Ryan K. Bakhtiari, have filed comments with the Securities and Exchange Commission concerning proposed FINRA Rule 2081 (Prohibited Conditions Relating to Expungement of Customer Dispute Information). Proposed Rule 2081 seeks to add additional safeguards to the expungement process by prohibiting the conditioning of the settlement of […]

Aidikoff, Uhl & Bakhtiari partner Ryan Bakhtiari to Speak at 2014 FINRA Annual Conference

May 1, 2014

Aidikoff, Uhl & Bakhtiari partner Ryan Bakhtiari has been invited to participate as a speaker at the 2014 FINRA Annual Conference program on Monday, May 19, 2014 titled “Arbitration, Expungement and Arbitrator Disclosure.” The FINRA Annual Conference is held between May 19, 2014 and May 21, 2014 at the Renaissance Washington, DC Hotel. The conference […]

Finra board approves requirement of background checks for brokers

April 25, 2014

The Financial Industry Regulatory Authority (FINRA) announced today that its Board of Governors approved amendments to FINRA’s supervision rule that would expand the obligations of firms to check the background of applicants for registration, including first-time applications as well as transfers, to verify the accuracy and completeness of the information contained in an applicant’s Form […]

Finra abandons effort to become RIA regulator

April 11, 2014

Finra chairman and CEO Richard G. Ketchum said the regulator is no longer interested in expanding its oversight to financial advisers. Mr. Ketchum told the Wall Street Journal on Thursday, “We are not pursuing it at the present time.” “We don’t perceive any likelihood that it would be successful,” Mr. Ketchum told the WSJ, referring to […]

FINRA fines LPL Financial $950,000 for alternative investment supervisory failures

April 2, 2014

The Financial Industry Regulatory Authority (FINRA) announced that it has fined LPL Financial LLC $950,000 for supervisory deficiencies related to the sales of alternative investment products, including non-traded real estate investment trusts (REITs), oil and gas partnerships, business development companies (BDCs), hedge funds, managed futures and other illiquid pass-through investments. As part of the sanction, […]