Home Breadcrumb caret Industry News Breadcrumb caret Industry FINRA withdraws recruitment bonus disclosure rule FINRA has withdrawn from the SEC a proposed rule that would have required advisors to disclose recruitment bonuses in excess of $100,000, reports WealthManagement.com. By Staff | June 23, 2014 | Last updated on June 23, 2014 1 min read FINRA has withdrawn from the SEC a proposed rule that would have forced advisors to disclose to clients recruitment bonuses in excess of $100,000, reports WealthManagement.com. Read: FINRA makes dark-pool data public “FINRA filed the withdrawal notice with the SEC on Friday. No reason was provided in the filing, and FINRA did not immediately respond to a request for comment Monday,” notes the report. Read more here. Washington, D.C.-based Financial Services Institute released the following statement: “Many of our members have concerns regarding FINRA’s recruitment compensation disclosure proposal, including a lack of transparent cost-benefit analysis. Should FINRA choose to re-propose the rule at a later date, we encourage them to conduct a thorough cost-benefit analysis of the rule, share the results with the industry and carefully assess the proposal’s impact on firms, financial advisors and investors.” Also read: FINRA outlines 2014 priorities Low financial literacy plagues millennials Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo