- Doesn’t Really Stand for That Proposition: FINRA’s Suitability Rule and the Meaning of “Best Interest”
- December 14, 2018 | Authors: Melissa L. Fox; Amanda R. Giffin; Brian L. Rubin
- Law Firms: Eversheds Sutherland (US) LLP - Atlanta Office; Eversheds Sutherland (US) LLP - Atlanta Office
Everyone knows that broker-dealers and investment advisers have different duties and obligations to their clients. Well, not quite everyone. In particular, not the Financial Industry Regulatory Authority (FINRA), the self-regulatory organization (SRO) authorized by Congress as the primary regulator of broker-dealers.In this article for Bloomberg Law, Eversheds Sutherland attorneys Brian Rubin, Melissa Fox and Amanda Giffin explore why FINRA got it wrong three times in a series of pronouncements.