FINRA Announces Rule 4111 (Restricted Firm Obligations) Evaluation Date
In an Information Notice released February 1, 2022, FINRA announced the first “Evaluation Date” for the new Rule 4111 (Restricted Firm Obligations) on June 1, 2022. Rule 4111 went into effect on January 1, 2022, and addresses firms with a significant history of misconduct. More specifically, it requires member firms that are identified as Restricted Firms to deposit cash or qualified securities in a segregated, restricted account; adhere to specified conditions or restrictions; or comply with a combination of such obligations. Rule 4111 Rule 4111 establishes a multi-step, annual process through which FINRA will determine whether a member firm raises Read more about FINRA Announces Rule 4111 (Restricted Firm Obligations) Evaluation Date[…]