Search Results for: FINRA
FINRA Sanctions Merrill Lynch $7 Million
December 1st, 2016
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. $6.25 million and the firm will pay approximately $780,000 in restitution for inadequately supervising its customers’ use of leverage in ...
FINRA fines investment firm for $3.4 Million
November 23rd, 2016
FINRA Sanctions Oppenheimer & Co. $3.4 Million for Reporting Violations, Failing to Comply With Discovery Obligations in Arbitrations, and Other Supervisory Failures The Financial Industry Regulatory Authority (FINRA) announced that it has fined Oppenheimer & Co. Inc. $1.575 million ...
FINRA Fines Merrill Lynch $2.8 Million
October 19th, 2016
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner and Smith Inc. $2.8 million for systemic trade reporting, Order Audit Trail System (OATS) reporting, books and records, and related supervisory violations that ...
FINRA advice to read your brokerage account statement
October 14th, 2016
Recently, the Financial Industry Regulatory Authority (FINRA) imposed a fine of $850,000 on a firm with thousands of employees for failing to detect for two years that a single broker had taken more than $370,000 from five customer brokerage ...
FINRA fines financial services company $850,000
September 19th, 2016
The Financial Industry Regulatory Authority (FINRA) announced that it has fined Ameriprise Financial Services, Inc. $850,000 for failing to detect the conversion of more than $370,000 from five customer brokerage accounts by one of its registered representatives. Ameriprise failed ...
FINRA Fines Deutsche Bank Securities Inc. $12.5 Million for Inadequate Supervision of Internal Communications
August 9th, 2016
The Financial Industry Regulatory Authority (FINRA) today announced it has fined Deutsche Bank Securities Inc. $12.5 million for significant supervisory failures related to research and trading-related information it disseminated to its employees, called ‘hoots’ or ‘squawks,’ over internal speakers ...
FINRA Fines Deutsche Bank Securities Inc. $6 Million
June 30th, 2016
The Financial Industry Regulatory Authority (FINRA) today announced it has fined Deutsche Bank Securities Inc. $6 million for failing to provide complete and accurate trade data in an automated format in a timely manner when requested by FINRA and ...
FINRA Announces CEO Transition
June 14th, 2016
The Financial Industry Regulatory Authority (FINRA) today announced that its Board of Governors has concluded the CEO search, and appointed Robert W. Cook as President and Chief Executive Officer, effective the second half of 2016. Mr. Cook will succeed ...
FINRA fined full-service investment firm $2.9 Million
June 9th, 2016
FINRA Sanctions Oppenheimer & Co. $2.9 Million for Unsuitable Sales of Non-Traditional ETFs and Related Supervisory Failures The Financial Industry Regulatory Authority (FINRA) announced today that it has fined full-service investment firm Oppenheimer & Co. Inc. $2.25 million and ordered ...
FINRA Fines E*Trade Securities $900,000
June 3rd, 2016
The Financial Industry Regulatory Authority (FINRA) announced that it has censured and fined E*Trade Securities LLC $900,000 for failing to conduct an adequate review of the quality of execution of its customers’ orders and for supervisory deficiencies concerning the ...
