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NEWSLETTERS & ALERTS
FINRA Reports Disciplinary Actions Against 14 Firms, 51 Individuals
by Howard Haykin
FIRM'S CASES. Fines for these cases ranged from $5K to $550K. Among the topics covered in these cases are, the following:
- Sales of Non-Traditional ETFs: AWC #2015043362701; AWC #2016048934301.
- Customer Trade Confirmations: AWC #2014039653701.
- Email Retention (WORM): AWC #2016047872901.
- AML (International Business): AWC #2015046020002.
- SEC Regulation S-P: AWC #2014042979701.
- S-T Trading in UITs: AWC #2017052215401.
INDIVIDUAL'S CASES. Twenty-four individuals were barred, which included 13 for refusing or failing to cooperate with FINRA investigations. Among the topics covered in the remaining 27 cases, are, the following:
- Mutual Fund Switching: AWC #2015045549301.
- Conversion of Customer Funds: AWC #2018058343001.
- Impersonation of a Customer: AWC #2015048332401.
- False Expense Reports: AWC #2017053816101.
- Borrowing From Customers: AWC #2016051931501; AWC #2017055404901.
- Disclosure of Non-Public Customer Info: AWC #2015046807002.
- Willful Failure to Update Form U4: AWC #2015044600801.
For details on any of these cases: