Boundaries need to be defined for FINRA's Rule 8210

11/19/2013 | InvestmentNews (free registration)

Recent changes in FINRA's Rule 8210 give broker-dealers and registered representatives little alternative if they object to a request for documents, write Eric A. Arnold and Brian L. Rubin, partners at Sutherland, Asbill & Brennan. Refusal to comply means sanctions with the option of appealing to the Securities and Exchange Commission. What's missing is any kind of clarification about legitimate objections that can be raised for requests perceived to extend beyond the scope of the rule.

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