BROWSE BY TOPIC
- Investor Protection
- Bad Advisors
- Investments - Strategies
- Bad Brokers
- Investments - Unsuitable
- Investments - Private
- Boiler Rooms
- Regulatory Sanctions
- Wall Street News
- Rules & Regulations
- Terminations/Cost Cutting
- Compliance Concepts
- General News
- Donald Trump & Co.
- Big Banks
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
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
NEWSLETTERS & ALERTS
FINRA Reports Disciplinary Actions Against 12 Firms, 48 Individuals
by Howard Haykin
In Disciplinary and Other FINRA Actions for September 2019, FINRA reported cases (AWC's) involving 12 member firms and 48 associated persons. FINRA also reported 5 complaints against 3 firms and 6 individuals. Financialish will be analyzing some of the closed or settled cases in upcoming posts.
FIRMS' CASES. In cases involving member firms, fines ranged up to $473K and ordered restitutions ranged up to $641K. In addition, one firm was given a 30-day suspension, while another was expelled.
- 2 firms were sanctioned for inappropriate mutual fund transactions.
- 2 firms were sanctioned for trade reporting violations.
INDIVIDUALS' CASES. In cases involving individuals, fines ranged from $0K to $20K, disgorgements or restitutions ranged up to $56K, and suspensions ranged from 10 days to 2 years.
- 20 Individuals were Barred, 16 of which for refusing / failing to cooperate with FINRA investigations.
- 8 Cases involved Unauthorized Use of Discretionary Authority: including AWC #’s 2017053182001; 2017055439501; 2017053375801.
- 5 Cases involved Failure to Update Forms U4: including AWC #’s 2018058322401; 2018057708002; 2018057626102.
- 2 Cases involved Privately-Settled Customer Complaints: AWC #’s 2018060051801; 2019061700301.