The Financial Industry Regulatory Authority has issued a Regulatory Notice seeking comments on its rules on outside business activities and private securities transactions. The notice is part of a wider initiative by the regulator to review its operations and programs, FINRA360 announced this year. These particular rules were meant to protect the public from activities carried out away from the broker/dealer that could be risky, but also could be wrongly perceived as something that the b/d is doing. "Successful self-regulation requires continuous renewal and improvement. Meaningful dialogue with stakeholders is essential to that process,” said FINRA President and CEO Robert W. Cook in a statement.
Richard Grobman, a veteran financial advisor and branch manager, is joining Raymond James & Associates to head an office in Philadelphia. Grobman was previously a branch manager for Oppenheimer & Co. in Philadelphia, where he oversaw approximately 20 advisors and support staff, and personally managed more than $420 million in client assets. He and branch administrative manager Dawn DeAngelo will support 10 others and collectively manage more than $1.5 billion in client assets for Raymond James' traditional broker/dealer.
MassMutual is getting a makeover for its 166th birthday. The Springfield, Mass.-based life insurance firm revealed a modern logo and updated website on Monday that MassMutual says better reflects the company’s history and core values. The theme is interdependence and celebrating relationships at home, at work, and in the community, according to MassMutual chief digital and customer experience officer Gareth Ross. “Our new positioning celebrates these relationships — underscoring that when we depend on each other, we are not only more secure, but life is also happier and more fulfilling," Ross said in a statement. Since its previous brand refresh in 2007, MassMutual says it has worked to be more accessible in the digital age. “This is just the beginning of the next chapter in MassMutual's long journey of helping people secure their future and protect the ones they love.”