Search Results for: Financial Industry Regulatory Authority
FINRA Fines E*Trade Securities $900,000
June 3rd, 2016
The Financial Industry Regulatory Authority (FINRA) announced that it has censured and fined E*Trade Securities LLC $900,000 for failing to conduct an adequate review of the quality of execution of its customers’ orders and for supervisory deficiencies concerning the ...
FINRA Fines Raymond James $17 Million for Systemic Anti-Money Laundering Compliance Failures
May 19th, 2016
Former AML Compliance Officer Fined and Suspended The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Raymond James & Associates, Inc. (RJA) and Raymond James Financial Services, Inc. (RJFS), a total of $17 million for widespread ...
SEC announced fraud charges against 10 individuals involved in schemes to trick investors
May 4th, 2016
The Securities and Exchange Commission today announced fraud charges against 10 individuals involved in schemes to trick investors into buying shares of a particular company stock. The schemes were allegedly fraught with cash bribes and other kickbacks to registered ...
FINRA fined MetLife Securities, Inc. $25 Million
May 4th, 2016
Largest FINRA Fine Relating to Variable Annuities The Financial Industry Regulatory Authority (FINRA) announced today that it has fined MetLife Securities, Inc. (MSI) $20 million and ordered it to pay $5 million to customers for making negligent material misrepresentations ...
FINRA: New Data on OTC Equity Trading Now Available
April 27th, 2016
The Financial Industry Regulatory Authority (FINRA) today announced that expanded data on over-the-counter (OTC) trading in equity securities is now live, extending FINRA’s trading-volume transparency to all of the OTC market. With this enhancement, FINRA is supplementing the data that it ...
Five tips on How Investors Can Avoid Getting Fooled
April 4th, 2016
The Financial Industry Regulatory Authority (FINRA) offers five tips to help investors avoid being tricked out of their money. “April 1st is a day to indulge in silly hoaxes and pranks. But there’s nothing funny about a fraudster carrying ...
Deutsche Bank agrees to pay $4 mln for trading violations
March 31st, 2016
A Deutsche Bank AG unit will pay more than $4 million to settle allegations that it failed to properly report data on millions of options trades, according to a Financial Industry Regulatory Authority (FINRA) document. The alleged conduct between ...
FINRA and Nasdaq Fine Wedbush Securities Inc. $675,000 For Supervisory Violations Relating to Chronic Fails to Deliver by a Client in Multiple Exchange-Traded Funds
March 22nd, 2016
The Financial Industry Regulatory Authority (FINRA) and The Nasdaq Stock Market LLC (Nasdaq) announced today that they jointly censured and fined Wedbush Securities Inc. $675,000 for supervisory violations in connection with its handling of a client’s redemption activity and ...
Morgan Stanley Ordered to Pay Over $34 Million to HSN Co-Founder’s Estate
March 22nd, 2016
Ms. Forte had been Mr. Speer’s financial adviser since the late 1990s An arbitration panel ordered Morgan Stanley to pay more than $34 million to the estate of deceased Home Shopping Network co-founder Roy M. Speer and his foundation, ...
FINRA Reports on Effective Practices for Digital Investment Advice
March 17th, 2016
Financial services firms’ offerings of digital investment advice need sound governance and supervision, including effective means of overseeing suitability of recommendations, conflicts of interest, customer risk profiles and portfolio rebalancing, according to a new report from the Financial Industry Regulatory Authority ...
