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Stories of Interest
- Barclays and Deutsche Bank to Lag U.S. Trading Peers
- NY AG Schneiderman Seeks to Close Loophole That Could Let Trump Pardons Block State Charges
- 'Fearless Girl' is Moving to NYSE After Year Staring Down 'Charging Bull'
- What's In Your Wallet - American Express Shares Soar After Earnings Release
- Deutsche Bank's Executive Departures Continue Following Change in CEO
- Reflections of an Economist Commissioner (SEC's Piwowar)
- Billionaire HF Manager and The Fed Chair Runner-Up are Investing in New Cryptocurrency
- Court Finds 2 Brokers Liable for Fraud Involving Mortgage-Backed Securities
- One FINRA: An Organization’s Commitment to Diversity and Inclusion
- 2018 GASB Accounting Support Fee to Fund the Governmental Accounting Standards Board
- Barclays Eyes Move Into Cryptocurrency Trading
- Goldman Breaks From Wall Street Pack with Bond-Trading Boom
- Janney Montgomery Scott CEO Joins FINRA Board of Governors
- SEC Encourages Investors to Do Background Checks on Investor.gov
- The Martin Act: Wall Street Titan Takes Aim at Law That Tripped Him Up
- Bank of America’s Cost-Cutting Drive Pushes Profit to Record
- Larry Fink: Wall Street’s $6 Trillion Man Finally Worth $1Bn
- Activist Investor Wants Barclays Investment Banking Overhaul (Video)
- House Passes Bill to Streamline 'Volcker Rule'
- CEO Charged with Penny Stock Fraud - SEC
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NEWSLETTERS & ALERTS
Despite a Light Month for Trade Reporting Violations - FINRA
OATS TRADE REPORTS.
- FINRA AWC #2016049203601 - Global Oak Capital Markets agreed to pay a $10K fine to settle FINRA charges that it failed to transmit Reportable Order Events (ROEs) to the Order Audit Trail System (OATSTM).
- FINRA AWC #2016049037401 - Bulltick agreed to pay a $25K fine and to revise its WSPs to settle FINRA charges that it failed to transmit ROEs to OATS on 211 business days.
TRACE TRADE REPORT.
- FINRA AWC #2015047655501 - BNY Mellon Capital Markets agreed to pay a $150 K fine and to revise its WSPs to settle FINRA charges that it failed to report Trade Reporting and Compliance Engine (TRACE)-eligible securitized products transactions to TRACE within the time prescribed by FINRA Rule 6730.
- FINRA AWC #2015047818301 - ANZ Securities agreed to pay a $10K fine to settle FINRA charges that it failed to report S1 transactions in TRACE-eligible securities to TRACE within 15 minutes of the execution time.
RTRS TRADE REPORT.
- FINRA AWC #2016048224701 - Corecap Investments agreed to pay a $12.5K fine to settle FINRA charges that it failed to report municipal securities transactions to the Real-Time Transaction Reporting system (RTRS).
FINANCIALISH TAKE AWAY. Due to a coding error at the clearing firm, Corecap’s muni bond transactions were not reported to the RTRS. So, even though the firm had contracted with its clearing firm to report its muni bond transactions to the RTRS, the firm maintains final responsibility for accurate reporting to the RTRS under MSRB rules.
While it’s possible that Corecap has recourse against its clearing firm for this fine, the firm has been forewarned to establish and enforce practicable supervisory procedures to help ensure that its reporting obligations are fulfilled – even by third parties.
These cases were reported in FINRA Disciplinary Actions for September 2017.
For details on any of the cases, go to ... FINRA Disciplinary Actions Online, and refer to the respective AWC or Case Number.