The Financial Industry Regulatory Authority announced that it has fined 25 broker-dealers a total of US$2,145,000 for failures related to their completion of FINRA’s self-assessment of mutual fund breakpoint discount compliance.The self-assessment required firms that sold front-end load mutual funds to review their compliance in providing breakpoint discounts to customers during 2001 and 2002 and […]
Program would apply to proposed central counterparty for CDS trades
The Financial Industry Regulatory Authority announced Tuesdayy that it has imposed a US$2 million fine against Citigroup Global Markets for various trade reporting violations.The sanction relates to the erroneous publication of non-bona fide quotations and transactions at and around the NASDAQ market opening on a Quadruple Witch Expiration Friday; systemic Order Audit Trail System reporting […]
Proposal would bring transparency to primary market, government agency and GSE debt
Current head of New York Stock Exchange Regulation will retain post as FINRA chairman as well
Luparello to serve as interim CEO
Firms failed to adequately monitor for suspicious trading activity
The Financial Industry Regulatory Authority announced that it has banned two brokers and suspended a third, for misconduct in the sale of complex Collateralized Mortgage Obligations to retail customers.The brokers neither admitted nor denied the charges, but consented to the entry of FINRA’s findings. Two brokers were permanently barred from the securities industry, and the […]
Illegal sales of unregistered penny stocks lead to fines, suspension
FINRA, NYSE Regulation to split responsibilities