FINRA Reminds Firms of Obligations Regarding Unregistered Resales of Restricted Securities

March 05, 2009
The Financial Industry Regulatory Authority (FINRA) recently issued Regulatory Notice 09-05 as a reminder to member firms to comply with federal securities laws and FINRA rules when participating in the unregistered resale of restricted securities. This update reviews the Notice, which includes a list of possible red flags that should alert firms of a potential illegal distribution.