Search Results for: Financial Industry Regulatory Authority
SEC Charges Three Individuals and Broker-Dealer With Violating Market Structure Rules
December 19th, 2016
The Securities and Exchange Commission today announced settled cease-and-desist proceedings against the CEO of a Utah-based broker-dealer and two registered persons associated with the firm for causing the firm’s violations of SEC market structure rules, and contested administrative and ...
FINRA Fines Deutsche Bank $3.25 Million
December 19th, 2016
FINRA Fines Deutsche Bank $3.25 Million for Deficient Disclosures Concerning the Operation of Its Alternative Trading System The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Deutsche Bank Securities Inc. $3.25 million for failing to provide ...
Two traders charged in $26 Million Stock Manipulation Scheme
December 13th, 2016
SEC Files Charges in $26 Million Stock Manipulation Scheme The Securities and Exchange Commission today charged two New Jersey-based traders with manipulating more than 2,000 NYSE- and NASDAQ-traded stocks and reaping more than $26 million in profits from their ...
FINRA fined Credit Suisse Securities USA $16.5 million for AML and other violations
December 6th, 2016
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Credit Suisse Securities (USA) LLC $16.5 million for anti-money laundering (AML), supervision and other violations. FINRA found that Credit Suisse’s suspicious activity monitoring program was deficient in ...
FINRA Sanctions Merrill Lynch $7 Million
December 1st, 2016
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. $6.25 million and the firm will pay approximately $780,000 in restitution for inadequately supervising its customers’ use of leverage in ...
FINRA fines investment firm for $3.4 Million
November 23rd, 2016
FINRA Sanctions Oppenheimer & Co. $3.4 Million for Reporting Violations, Failing to Comply With Discovery Obligations in Arbitrations, and Other Supervisory Failures The Financial Industry Regulatory Authority (FINRA) announced that it has fined Oppenheimer & Co. Inc. $1.575 million ...
Broker sentenced in $3 million Ponzi scam
November 16th, 2016
A former Greenville broker accused of stealing from his clients in a long-running Ponzi scam was sentenced Tuesday to two years in a federal penitentiary. Claus C. Foerster, 56, of Spartanburg, defrauded clients of over $3 million while employed as ...
SEC Charges Board Member With Insider Trading During and After Board Meeting
October 24th, 2016
The Securities and Exchange Commission today charged a Tennessee-based lawyer who served on the executive committee of the board of directors at Nashville-based Pinnacle Financial Partners with insider trading based on nonpublic information he learned about an impending merger. ...
FINRA Fines Merrill Lynch $2.8 Million
October 19th, 2016
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner and Smith Inc. $2.8 million for systemic trade reporting, Order Audit Trail System (OATS) reporting, books and records, and related supervisory violations that ...
FINRA advice to read your brokerage account statement
October 14th, 2016
Recently, the Financial Industry Regulatory Authority (FINRA) imposed a fine of $850,000 on a firm with thousands of employees for failing to detect for two years that a single broker had taken more than $370,000 from five customer brokerage ...
