Recent alleged recordkeeping failures resulted in aggregate fines in excess of $1.8 billion levied against 11 Wall Street financial institutions and many of their affiliated entities by the Securities and Exchange Commission...more
The Financial Industry Regulatory Authority (FINRA) Sanction Guidelines have been significantly revised, now giving FINRA discretion to impose considerably higher fines on mid- and large-size firms. The revisions, published...more
On July 27, 2022, FINRA filed a proposed rule change with the SEC to make it easier for brokers to work from home. The proposed rule will add a category termed a “Residential Supervisory Location” under FINRA Rule 3110...more
8/16/2022
/ Acquisitions ,
Broker-Dealer ,
Compliance ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
Investment Adviser ,
Investment Funds ,
Mergers ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Spoofing ,
UK
Almost all proprietary trading firms that are currently registered as broker-dealers with the Securities and Exchange Commission (SEC) would likely be required to join the Financial Industry Regulatory Authority (FINRA) under...more
The Financial Industry Regulatory Authority (FINRA) recently issued a Regulatory Notice (Notice) reminding firms of their obligations with respect to best execution and payment for order flow....more
BROKER-DEALER -
FINRA Publishes 2021 Industry Spotlight -
On May 25, the Financial Industry Regulatory Authority (FINRA) published the 2021 FINRA Industry Spotlight (Industry Spotlight), which is FINRA’s annual...more
BROKER-DEALER -
Notice of Filing of a Proposed Rule Change to Adopt a Supplemental Liquidity Schedule -
The Securities and Exchange Commission is seeking comments on a Financial Industry Regulatory Authority (FINRA)...more
SEC/CORPORATE -
SEC Corp Fin Staff Issues Statement on SPAC Transactions -
On March 31, the staff of the Division of Corporation Finance (the Staff) of the Securities and Exchange Commission issued a staff statement...more
BROKER-DEALER -
FINRA New Rule 3241 Becomes Effective February 15 -
On February 15, Financial Industry Regulatory Authority (FINRA) new Rule 3241 — “Registered Person Being Named a Customer’s Beneficiary or Holding a...more
2/8/2021
/ Broker-Dealer ,
Compliance ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
False Claims Act (FCA) ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
HM Treasury ,
Investment Adviser ,
Securities and Exchange Commission (SEC) ,
UK
The Securities and Exchange Commission issued a proposed order that, if adopted, would provide an exemption to certain "finders," persons who connect potential buyers and sellers of securities for a fee, from broker-dealer...more