Monday, January 26, 2009

Finra enforcement sweep targets RIA referrals

"The enforcement division of the Financial Industry Regulatory Authority Inc. is looking into how brokerage firms refer investors to money managers.

A Jan. 15 letter from the enforcement department, sent to an unknown number of firms, also asks specific questions about referrals made to Bernard L. Madoff Investment Securities LLC of New York or any investment service offered by the Madoff firm.

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