Amy Lynch comments on FINRA’s upcoming rule proposal revising oversight of outside business activities (InvestmentNews)

Amy Lynch, Founder and President - FrontLine Compliance
Amy Lynch, Founder and President – FrontLine Compliance

Founder and President Amy Lynch provided the lead quotes in a story on FINRA’s soon to be released rule proposals, one of which revises the types of outside business activities that broker-dealers must monitor. Ms. Lynch comments that the vagueness of the current definition of outside business activities challenges firms proper oversight and supervision in this area. She explains that the newer definition in the upcoming rule proposal should provide greater clarity for firms. Ms. Lynch states that the proposed change removing the responsibility of broker-dealers to supervise rep activities at independent or non-affiliated entities, is in particular, a win for the industry. See InvestmentNews, “FINRA advances proposals to clarify outside business activities, churning rules