Groups criticize FINRA push to reveal recruiting bonuses

03/6/2013 | InvestmentNews (free registration)

The National Association of Insurance and Financial Advisors and the Securities Industry and Financial Markets Association have criticized a proposal by the Financial Industry Regulatory Authority that would require brokers to reveal their incentives for switching firms. The groups said incentives do not necessarily represent conflicts of interest, and that factors beyond money often motivate broker moves. FINRA's next step is to consider the comments and put forth a final rule.

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