Speech by FINRA CEO Rick Ketchum

Speech by Rick Ketchum

February 8, 2011

In a speech before the CCOutreach BD National Seminar, FINRA Chairman and CEO Rick Ketchum discussed a number of issues relevant to broker-dealers. Mr. Ketchum expressed support for the movement to a fiduciary duty for broker-dealers that provide investment advice, and noted that FINRA believes that customers should receive more disclosure from broker-dealers about products, conflicts of interest, and services provided. In addition, Mr. Ketchum highlighted a number of exam priorities, including (i) suitability as to products; (ii) private placements and private self offerings; (iii) municipal securities; and (iv) non-conventional investments.

Cross References

SEC Staff Study on Investment Advisers and Broker-Dealers (January 2011)