The staff of the SEC recently addressed broker-dealers’ obligations when engaging in transactions in unregistered securities by issuing FAQs and a Risk Alert that reported the results of examinations of a number of...more
The staff of the U.S. Securities and Exchange Commission recently addressed broker-dealers’ obligations when they engage in transactions in unregistered securities by issuing FAQs and a risk alert that reported the results of...more
The Financial Industry Regulatory Authority (FINRA) recently took formal disciplinary action against a New York-based broker-dealer that is affiliated with a Mexican broker-dealer and a Mexican bank for inadequate anti-money...more
FINRA did not wait for any dust (or snow) to settle on the New Year before alerting the brokerage industry and the public about its regulatory and examination priorities for 2014. This year’s letter, issued earlier than ever...more
1/6/2014
/ Algorithmic Trading ,
Anti-Money Laundering ,
Broker-Dealer ,
Compliance ,
Conflicts of Interest ,
Crowdfunding ,
Employer Liability Issues ,
Enforcement ,
Financial Industry Regulatory Authority (FINRA) ,
High Frequency Trading ,
Qualified Benefit Plans ,
Recidivism
FINRA continues to discipline broker-dealers that fail to detect and investigate so-called “red flags” of suspicious account activity. Yesterday, FINRA announced a $1 million fine against COR Clearing LLC (the “Firm”) –...more
The price tag for failing to detect suspicious activity in penny stocks through an adequate anti-money laundering program continues to increase. Oppenheimer & Co., Inc. recently agreed to pay FINRA more than $1.4 million to...more
Last week, the Financial Industry Regulatory Authority (FINRA) publicized penalties against three companies – as well as four associated individuals – that it found had failed to establish and implement adequate procedures...more