SIFMA Submits Comments to FINRA on Disclosures Relating to Recruitment Compensation Practices

SIFMA submitted the attached comments to FINRA on its proposal in FINRA Regulatory Notice 13-02, which would require disclosures relating to recruitment compensation practices.

SIFMA provides certain specific comments on the FINRA proposal, including as to the required timing of the disclosures, but comes out as generally supportive of the notion.

Cross-Reference(s): FINRA Rule 4512 ("Customer Account Information").

Click hereto view letter in full (links externally to SIFMA website).See also: SIFMA Press Release.Related News Item: FINRA Requests Comment on a Proposed Rule to Require Disclosure of Conflicts of Interest Relating to Recruitment Compensation Practices.