Title

Is B/D Desk Commentary Dead?
Compliance Reporter

Created date

1/22/2016

Brokers have for many years produced on the trading desk and distributed to customers written “desk commentary” without all of the procedural safeguards applicable to research. During that time, the Financial Industry Regulatory Authority has never clarified where the line between research and desk commentary is drawn. But industry professionals have said that some FINRA examiners have recently made comments to several firms that have caused concern because they have been seen as implying a robust view of which communications are deemed to be research reports.

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