Having to disclose a signing bonus—among other delicate compensation details—might just make a broker turn it down and stay put, and we can’t have that, since, as The Wall Street Journal’s analysis of the information FINRA isn’t analyzing shows, jumping from firm to firm every time you get caught doing something wrong is what makes the brokering world go round.

Finra sent its plan to the Securities and Exchange Commission earlier this year for review and approval. But in light of the industry’s criticism it now needs some reworking, Finra said Monday….

“The proposal generated 184 comment letters, and due to the rigid timelines imposed by Dodd-Frank by which the SEC must act on a proposal, Finra did not believe it could fully address the comments within those time frames,” Finra said in a statement.

So it’s back to the drawing board, where FINRA can have all the time it needs to make the proposal just right, for somebody, anyway. In the meantime, perhaps you would like to know how much FINRA’s executives make for this regime of strict self-regulating?

Finra Withdraws Proposal Requiring Brokers to Disclose Big Recruitment Bonuses [WSJ]
FINRA pulls U.S. broker pay disclosure rule; will refile [Reuters]

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