FINRA Examining Certain Reps Who Took PPP Loans
FINRA Examining Certain Reps Who Took PPP Loans The scrutiny stems from registered reps who obtained PPP loans through undisclosed outside business activities, but a letter to one such rep is not part of a targeted examination or ‘sweep,’ FINRA says. The Financial Industry Regulatory Authority is examining certain registered reps who received loans through the government’s Paycheck Protection Program (PPP), according to a letter obtained by WealthManagement.com. Securities attorneys and analysts say the scrutiny concerns reps with outside businesses who took loans for those ent...