The most important lesson for both FINRA and the industry that comes out of this transaction could be this: If you’re going to allow block transfers to be used in a change of control transaction between broker-dealers, the seller should be forced to allow block transfers on a level playing field with all firms that meet certain basic criteria that would make them good destinations for the advisors and clients involved.
FINRA’s Greenlight For NPH-LPL Block Account Transfers Raises Questions
October 5, 2017
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