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Stories of Interest
- Stephen Hicks Barred for Defrauding His CT Hedge Funds - SEC
- Barclays CEO Staley Sees Pay Decline - Frankly, He's Lucky to Still be Employed
- Barclays Female Investment Bankers Earn 21% Less in Bonuses than Male Counterparts
- FINRA Eliminates $400 Fee for Explained Arbitration Decision
- SEC Adopts Statement and Interpretive Guidance on Public Company Cybersecurity Disclosures
- SEC Charges Former Bitcoin Exchange and Its Founder With Fraud
- JPMorgan Chase to Replace NYC Headquarters with 70-Story Skyscraper
- Citigroup Raises CEO Corbat's Pay 48% to $23Mn
- Should Congress Create a Crypto-Cop?
- JPMorgan Weighs Buying an Exchange-Traded Funds Firm
- Hey, Goldman Sachs: Wanna Buy BNY Mellon?
- SEC Order Rejecting Acquisition of Chicago Stock Exchange (CSX) by Chinese-Baesd Company
- Kyle Moffatt Named Chief Accountant in SEC CorpFinance
- SEC Suspends Trading in 3 Issuers Claiming Involvement in Cryptocurrency and Blockchain Technology
- Karen Garnett, Assoc. Director of SEC CorpFinance, to Leave After 23 Years of Service
- Louisiana Adviser Barred for Hiding Losses from Investors
- Connecticut HF Manager Illegally Diverted Investor Money - Now Owes Nearly $13Mn
- White House Cleaning House of Advisors Without Full Security Clearance
- Goldman Projects 30% Growth in Wealth Management Advisor Force
- Whistleblower Alleges Manipulation of CBOE Volatility Index
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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.