The Financial Industry Regulatory Authority announced that it has censured and fined Wachovia Capital Markets, LLC US$300,000 for violations of FINRA’s research analyst conflict of interest disclosure rules.FINRA found that from June 2004 to May 2006, Wachovia failed to include in 40 research reports a total of 56 disclosures concerning Wachovia’s financial relationships with subject […]
Firm’s current and former presidents violated anti-money laundering rules
The program will help compliance chiefs ensure effective communication about compliance and maintain effective controls at their firms
Firm submitted mutual fund breakpoint data it knew was inaccurate
The U.S. Financial Industry Regulatory Authority today censured and fined UBS Financial Services, Inc. US$370,000, for making hundreds of late disclosures to FINRA’s Central Registration Depository of information about its brokers, including customer complaints, regulatory actions and criminal disclosures. Those reporting violations occurred over a three-year period, from January 2002 through December 2004. It said […]
Project will research how to mitigate common errors made by individual investors
Voluntary initiative designed to help firms serve customers during disruptions
The U.S. Financial Industry Regulatory Authority today announced a settlement with Morgan Stanley & Co. over allegations that it failed to provide emails to regulators and clients involved in arbitration proceedings, claiming that they were destroyed along with the World Trade Center in 2001. The settlement resolves charges that the firm’s former affiliate, Morgan Stanley […]
New U.S. SRO will look at brokers using “professional” designations and at early retirement seminars aimed at misleading and defrauding investors
Firm voluntarily adds US$1.2 million to customer refund fund