Search Results for: FINRA
FINRA Sanctions Three Firms for Inadequate Supervision of Consolidated Reports
March 31st, 2015
The Financial Industry Regulatory Authority (FINRA) announced today that it has sanctioned three firms – H. Beck, Inc., LaSalle St. Securities, LLC, and J.P. Turner & Company, LLC – with fines of $425,000, $175,000 and $100,000, respectively, for inadequate ...
FINRA Sanctions Oppenheimer & Co. $3.75 Million for Supervisory Failures
March 27th, 2015
Firm Fined $2.5 Million and Ordered to Pay Restitution of $1.25 Million for Failing to Supervise Former Oppenheimer Broker Mark Hotton The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Oppenheimer & Co. Inc. $2.5 million ...
FINRA Sanctions First New York Securities L.L.C. $916,000 for Illegal Short Selling in Advance of 14 Public Offerings
March 26th, 2015
Firm Fined $400,000 and Ordered to Pay More Than $500,000 in Disgorgement; Prohibited From Participating in Secondary Offerings for Six Months The Financial Industry Regulatory Authority (FINRA) announced today that it has sanctioned First New York Securities L.L.C. $916,000 ...
Finra to Probe Broker Conflicts When Exchanges Offer Rebates
January 8th, 2015
Some brokers might not be getting the best prices for clients when they send stock orders to exchanges that offer rebates, regulators said in an outline of annual oversight priorities. Recent brokerage inspections found that some firms don’t have ...
FINRA Sanctions Monex Securities Inc. $1.3 Million for Failing to Register and Supervise Foreign Personnel
December 31st, 2014
Firm’s President Fined and Suspended The Financial Industry Regulatory Authority (FINRA) announced today that it has ordered Monex Securities Inc. to pay $1,100,000 in disgorgement of commissions, plus interest, obtained by unregistered foreign individuals who sold securities on the ...
FINRA Fines Pershing LLC $3 Million for Customer Protection Rule Violations and Supervisory Failures
December 30th, 2014
The Financial Industry Regulatory Authority (FINRA) announced today that it has censured and fined Pershing LLC $3 million for violating the Customer Protection Rule and for related supervisory failures. The Securities and Exchange Commission (SEC) rule creates requirements to ...
FINRA Fines Wells Fargo Advisors and Wells Fargo Advisors Financial Network $1.5 Million for Anti-Money Laundering Failures
December 19th, 2014
Firms Failed to Subject Over 200,000 New Accounts to Identity Verification The Financial Industry Regulatory Authority (FINRA) today announced that it has ordered two St. Louis-based broker-dealers under common control, Wells Fargo Advisors (WFA) and Wells Fargo Advisors Financial ...
SEC and FINRA Warn Investors About Penny Stock Scams
October 31st, 2014
The Securities and Exchange Commission’s Office of Investor Education and Advocacy and the Financial Industry Regulatory Authority (FINRA) issued an alert warning investors that some penny stocks being aggressively promoted as great investment opportunities may in fact be stocks ...
FINRA Expels Success Trade Securities and Bars CEO Fuad Ahmed for Ponzi Scheme
June 26th, 2014
The Financial Industry Regulatory Authority (FINRA) has announced that a FINRA hearing panel has expelled Washington, D.C.-based Success Trade Securities, Inc. from membership and barred its CEO and President, Fuad Ahmed, for the fraudulent sale of promissory notes and ...
EU Market Rules, Logitech Probe, Finra Fines: Compliance
May 23rd, 2014
Europe’s capital markets are getting a new foundation. The 28-nation European Union’s top markets regulator yesterday made public more than 800 pages of proposed rules that cover everything from high-frequency trading curbs to transparency requirements for bond markets and ...
