Monex Securities Inc. has been instructed to pay $1,100,000 in disgorgement of commissions, plus interest, as well as a $175,000 fine for failing to register foreign representatives and for related supervisory deficiencies
Read moreFINRA found that from November 2010 to August 2011, Pershing failed to maintain adequate reserves to meet its reserve deposit requirements with reserve deficiencies ranging from approximately $4 million to $220 million
Read moreFINRA found that from December 2012 to August 2014, Jeffrey C. McClure wrote himself 36 checks totaling $88,850 drawn on the customer's affiliated bank account without her knowledge or consent
Read moreWells Fargo Advisors (WFA) and Wells Fargo Advisors Financial Network (WFAFN), to pay a joint fine of $1.5 million for anti-money laundering (AML) failures, as both firms failed to subject over 200,000 new accounts to identity verification
Read moreMerrill Lynch, Pierce, Fenner & Smith Incorporated $1.9 million for fair pricing and supervisory violations in connection with more than 700 retail customer transactions in distressed securities over a two-year time period, as well as ordering restitution of $540,000
Read moreUS financial industry regulator FINRA has handed out of one its largest fines in recent memory - in part because a total of 10 investment banks are involved - hitting a number of firms involved with the proposed 2010 Toys 'R' Us IPO a total of $43.5 million. The violation? Having the firms' equity research…
Read moreJoseph M. Mecane has been appointed Floor Member Governor on FINRA's Board of Governors. Mr. Mecane is currently a Managing Director of Electronic Equities and Credit Products at Barclays, and previously served as EVP at NYSE
Read moreIn settling this matter, the US-based brokerage and securities division of banking behemoth Citigroup (NYSE: C) neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
Read moreNorth American financial regulatory authority FINRA has conducted an extensive survey into consumer perspective toward the comprehensiveness of regulation for brokerages, with the majority having stated that they would welcome greater regulatory oversight
Read moreRichard Berry prepares to head the dispute resolution activities of FINRA as his latest senior appointment following his twenty year tenure at NASD. Mr. Berry takes over from Linda Fienberg on December 1 this year
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