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TRENDING TAGS
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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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FINRA Q3 Disciplinary Hightlight #2: Inappropriate Disclosure of Market Sensitive Info
FINRA highlighted the case of an RR - a research analyst - who allegedly violated firm policy by prematurely disclosing potentially market-sensitive information. Of course, the firm’s WSP's specifically prohibited disclosure of potentially market-sensitive information prior to the issuance of a research report concerning the same issue.
Nevertheless, during a 2-month period, as the analyst was preparing to issue research on 5 oil and gas industry stocks, he wrongfully shared earnings estimates, projected price targets and buy recommendations re: the stocks. He did so through emails to institutional clients and firm sales and trading employees. For having allegedly violated NASD Rule 2110, the analyst was fined $15,000 and suspended one month. [ FINRA Quarterly Review, October ]
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