FINRA’s Acceptance, Waiver and Consent Settlement (AWC)-Part 3
From the Desk of Jim Eccleston at Eccleston Law LLC:
This is the third of three posts to discuss FINRA Rule 9216. This post will discuss the “consent” portion of the rule related to regulatory (disciplinary) settlement agreements.
As the term implies, the “consent” portion of the AWC occurs once the financial advisor gives permission to the General Counsel, the National Adjudicatory Council, or any member of the National Adjudicatory Council to impose sanctions after a complaint is filed.
In addition to consenting to the settlement, financial advisors may not make any public statement that denies the findings in his or her AWC or take any action that is inconsistent with any part of the AWC.
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