Big wirehouses and independent brokerages are divided over a Wall Street-supported proposal from FINRA that would require brokers to disclose recruiting bonuses and additional compensation incentives. According to letters filed in March, the wirehouses view the proposal as a way to protect clients, while the independents view the proposal as a misguided violation of privacy that would be too difficult to implement. Additionally, many independent brokers are concerned that releasing information about their incentives would make it impossible to beat the incentives offered by wirehouses.

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