Share on Facebook
Share on Twitter
Share on LinkedIn

This June, the Financial Industry Regulatory Authority (FINRA) will permit a broker-dealer to designate a home office as a “Residential Supervisory Locations” (RSL) within its supervisory structures.  (While this is certainly welcome news, as Vince Neil will tell you, just when things went right, it doesn’t mean they were always wrong.)  The new Rule 3110.19 poses some traps for the unwary as broker-dealers must meet certain conditions to use RSLs.  In addition, there are certain conditions under which a firm cannot designate some or any locations as RSLs.  As such, on Thursday, April 4, the Financial Industry Regulatory Authority (FINRA) will host a “Operationalizing Residential Supervisory Location Designations” for broker-dealers’ compliance personnel.  Please see  I expect this to be time well spent.

Because broker-dealers, registered investment advisers and their associates want to spend their time serving their clients, not their regulators.

Read more: