Broker Dealers

Reg BI Article Published by Oyster Director Evan Rosser

In April 2018, the SEC presented its long awaited rule proposal Regulation Best Interest (“Reg BI”) as a three-part regulatory package aimed at reforming the way that investment professionals serve retail investors. If enacted as proposed, Reg BI would impose upon broker-dealers an obligation to act in a retail customer’s “best interest” when recommending securities… READ MORE

Senior Consultant Bob Tuch Publishes Senior Safe Act Article

Oyster Consulting Senior Consultant Bob Tuch recently contributed his article, “Protection of Seniors from Financial Exploitation – Congress Enacts the Senior Safe Act” to Practical Compliance & Risk Management for the Securities Industry, a Wolters Kluwer publication.  The Senior Safe Act provides immunity from liability to covered financial institutions and certain employees and representatives of… READ MORE

FINRA Expands Permissive Registrations

FINRA is expanding its permissive registrations to include all associated persons, including those working solely in a clerical or ministerial capacity.  Previously, firms were only allowed to register or maintain the registrations of certain types of job functions (e.g., technology department employees). These changes take effect October 1, 2018. Registered individuals will be subject to… READ MORE