Wall Street's self-imposed watchdog is pushing ahead with a possible rule that would bring more transparency to the incentives offered to brokers who make a move to a new firm.
Such a rule would shed more light on the "money-talks" brokerage recruiting world, where signing bonuses for top brokers have become outsized over the past year.
New details emerged on Friday about the Financial Industry Regulatory Authority's bonus disclosure rule proposal following a Board of Governors meeting on Thursday. During the meeting the board also agreed to send a separate FINRA rule proposal about the expungement of certain broker records to the U.S. Securities and Exchange Commission.
The bonus disclosure rule would require securities brokerages to provide details to clients about compensation offered to brokers who make a move.
The rule proposal, which FINRA plans to publish for the public to review and comment, would require disclosure of any "enhanced compensation" of
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