Wall Street's industry-funded watchdog has asked the U.S. Securities and Exchange Commission to approve a measure that would require stockbrokers to tell clients about bonuses they receive when they switch firms, according to a regulatory filing. The Financial Industry Regulatory Authority late Monday sent the plan to the SEC, whose approval it needs. The 351-page proposalwill be subject to a public comment period before the SEC considers and votes on it. Brokers often receive hefty signing bonuses when moving from one securities firm to another. Disclosing these payouts would inform investors asked to follow their broker of a potential conflict of interest, FINRA Chief Executive Officer Richard Ketchum has said. FINRA also said clients would benefit from knowing that moving their assets to the recruiting firm would affect the types of securities they can hold or impose new costs, the regulator wrote in its proposal. The proposal would apply to recruitment compensation – including
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