Finra proposed increasing to $175 from $100 the amount that a registered representative can spend on an individual per year, and is seeking other updates to its gifts, gratuities and non-cash compensation rules. “The gift rule is meant to prohibit conflicts of interest so you can’t influence a firm to send business in your direction,” said Todd Cipperman, founding principal at Cipperman Compliance Services. The Financial Industry Regulatory Authority Inc. also proposed changes to apply the non-cash compensation restrictions to all securities transactions, not just for sales of mutual funds…
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