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Brian Lanciault

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Brian is a partner in the firm’s Business Litigation, Securities & Shareholder Litigation and White Collar Defense & Investigations groups. His practice focuses on representing businesses and individuals within the financial services sectors, specifically providing counsel to domestic banks, broker-dealers, clearing firms, investment advisors, private funds and public companies

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Earlier this month, FINRA agreed to a Letter of Acceptance, Waiver, and Consent (AWC) imposing a $10 million fine and finding that, from 2018 through at least February 2024, the brokerage firm violated FINRA Rule 2341(l)(5), which generally prohibits broker-dealers from paying or accepting non-cash compensation tied to sales, as well as recordkeeping and supervisory…

FINRA has requested comments on a proposed rule to simplify and ease members’ duties related to outside activities of associated persons. The rule would merge existing Rules 3270 and 3280, and cover fewer outside activities and transactions. However, the proposed rule keeps the status quo for outside investment adviser (“IA”) activity at an unaffiliated…