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Stories of Interest
- 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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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.