SL-04 - Hybrid Advisers: Regulation and Claims Regarding Dual‐Registered Brokers and RIAs

Date/Time: 
10/09/2018 - 3:15pm to 10/09/2018 - 4:15pm
Room: 
Blue Heron

This panel will explore issues in regulation and customer dispute resolution when a culpable financial adviser “wears two hats” as both a FINRA‐licensed broker and SEC‐licensed registered investment adviser. When is the brokerage firm responsible for conduct by its dual‐registered associated person? How do FINRA and the SEC parse enforcement issues for these hybrid advisers? The panel will discuss trends in customer arbitration cases, recent case law decisions, compliance and enforcement.