Paul Kiernan
speaker
175 appearances
3 recordings
1 series
first heard Jun 2018
last heard Aug 2021
Paul Kiernan’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
WSJ Your Money Briefing · Robinhood, Other Online Trading Apps Draw SEC Attention · 31 Aug 2021
podcast
What that means also not entirely clear.
It's still being kind of ironed out in practice.
But the SEC has said what it doesn't mean, and it doesn't mean putting the broker's interest ahead of the customer's interest.
So if a broker recommends a stock or a group of stocks that is going to result in a high commission or a lot of revenue for the broker and might not be great for the client, think this would be kind of an extreme example.
But, you know,
Think of a broker as recommending a 65-year-old go all in on GameStop.
Probably not a great idea.
Then the broker would be in violation of SEC rules, basically.
So one of the things that goes into determining whether something is a recommendation is how individually tailored is it.
If brokers are advertising during an NFL football game, that's not a recommendation.
It's very generalized.
If they're making really specific recommendations
prompts and forms of notifications or personalized lists of stocks for you, JR, on your account based on sophisticated data analytics or something, that might actually meet the definition of a recommendation and require the broker to be acting in your best interest.
Yeah, I mean, probably one of the best known apps is Robinhood's app.
It's got 18 million users at the last count.
And yeah, it's a brokerage.
It is regulated by the same authorities that oversee Edward Jones and Charles Schwab.
And it's required to comply with SEC rules.
That's a good question.
It's casting a very wide net.
Showing 21–40 of 175 · page 2 of 9
← Previous
Next →