IRC Comments on Proposed Rule Regarding Disclosure of Compensation Practices

The Investor Rights Clinic (“IRC”) today submitted a comment letter to the Financial Industry Regulatory Authority (“FINRA”) supporting a proposed rule to require FINRA member firms that have recruited a broker from another firm to disclose the financial incentives that broker received before a retail customer from the broker’s previous firm makes a final determination to transfer an account to the new firm. The IRC’s comment letter, drafted by IRC student intern James Schlosser, is available here.