Tag: FINRA

August 08, 2016 BY LeapRate Staff

Deutsche Bank hit with $12.5 million FINRA fine for internal hoots and squawks

U.S. securities industry regulator The Financial Industry Regulatory Authority (FINRA) has announced it has fined the Deutsche Bank Securities Inc. unit of German banking giant Deutsche Bank AG (USA) (NYSE:DB) $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 commonly known as…

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August 04, 2016 BY LeapRate Staff

FINRA fines Barclays $1.3 million for order reporting violations

U.S. Securities industry regulator The Financial Industry Regulatory Authority (FINRA) announced that it has fined the Barclays Capital Inc. unit of UK based banking giant Barclays PLC (ADR) (NYSE:BCS) $1.3 million for systemic Order Audit Trail System (OATS) reporting violations and related supervisory failures. FINRA rules require firms to transmit to OATS complete and accurate data relating…

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May 20, 2016 BY Mike Fox

Hong Kong SFC signs MoU with FINRA dealing with cross-border entities

The Securities and Futures Commission (SFC) of Hong Kong today has announced the regulator has entered into a memorandum of understanding (MoU) with the Financial Industry Regulatory Authority of the United States (FINRA) concerning mutual assistance in the supervision and oversight of regulated entities that operate on a cross-border basis in Hong Kong and in the…

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May 13, 2016 BY LeapRate Staff

What retail investors should know about crowdfunding

Starting next Monday, May 16, US investors will be able to buy securities in early-stage companies through crowdfunding. Under new rules effective May 16, 2016 as part of the JOBS Act, the general public can invest in capital raising by start-up companies through crowdfunding, which generally refers to the use of the Internet by small businesses…

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January 05, 2016 BY LeapRate Staff

FINRA aims to focus on broker 'culture' in 2016

The U.S. Financial Industry Regulatory Authority (FINRA) today released its Regulatory and Examination Priorities for 2016, highlighting three broad issues - supervision, risk management and controls; and liquidity. The letter also emphasizes firm culture, conflicts of interest and ethics, and the significant role each of these plays in the way a firm conducts its business. FINRA…

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December 31, 2015 BY Maria Nikolova

Phillip Capital Inc. becomes FINRA member, adds securities clearing to services

Phillip Capital Inc., a Chicago-based firm, which is part of the Singapore-based PhillipCapital Group, on Wednesday announced that it has become a Financial Industry Regulatory Authority (FINRA) member. As a result, Phillip Capital has expanded its financial services offering beyond futures and Forex to include self-clearing corporate equity and debt securities. The company will settle…

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December 23, 2015 BY Maria Nikolova

Importance of Trade Reporting systems: Macquarie fined $3 million

The Financial Industry Regulatory Authority (FINRA) today announced it has imposed a fine of $2.95 million on Macquarie Capital (USA) Inc. over the firm's failure to file comprehensive and accurate trade data in an automated format when requested by the Securities and Exchange Commission (SEC) and FINRA. In addition, Macquarie was ordered to carry out…

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