Among other clarifications, Finra says suitability requirements do not apply when a broker-dealer or rep recommends an investment to a prospect that subsequently becomes a client.
Read the full article from AdvisorOne.com.
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FINRA Clarifies Definitions of ‘Customer’ and ‘Investment Strategy’
The Financial Industry Regulatory Authority (Finra) has clarified definitions of the terms “customer” and “investment strategy,” according to AdvisorOne.com.
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