News & Analysis

Form U5 defamation cases are on the rise, with a reported 24% increase over the filing period from 2019 to 2020. Firms should take certain proactive steps to fully understand their duties, reduce risk, and avoid costly litigation.

On July 24, 2020, the FDIC published a Final Rule regarding Section 19 of the Federal Deposit Insurance Act, 12 U.S.C. § 1829 (“Section 19”), which restricts hiring at FDIC-insured depository institutions, such as FDIC member banks.

FINRA member institutions should become familiar with new background screening rules.