WASHINGTON – Military service members and their families often face unique financial challenges complicated by frequent moves, cost of living adjustments and un- or underemployment of military spouses. In an ongoing effort to increase the financial capability of service members and their spouses, the FINRA Investor Education Foundation Military Spouse Fellowship awarded 50 fellowships to military spouses seeking to earn their AFC® (Accredited Financial Counselor®) designation.
News Releases & Statements
WASHINGTON—FINRA announced today that it has fined Interactive Brokers LLC $15 million for widespread failures in the firm’s anti-money laundering (AML) program, which persisted for more than five years. As part of the settlement, FINRA also required Interactive Brokers to certify that it will implement the recommendations of a third-party consultant to remedy the firm’s AML program failures.
Firms Elect Wendy Lanton as Small Firm Governor, Re-Elect Jim Nagengast as Large Firm Governor
WASHINGTON – FINRA announced today the results of its election of two Governors to its Board of Governors. At today’s Annual Meeting of FINRA firms, small firms elected Wendy Lanton, Chief Operations/Compliance Officer, Lantern Investments, Inc., as a Small Firm Governor.
Statistical Overview of Brokerage Firms, Registered Representatives and Trading Activity
WASHINGTON—FINRA today published the 2020 FINRA Industry Snapshot, its annual statistical report on the brokerage firms, registered representatives and market activity that FINRA regulates.
Study Highlights Grim Financial Challenges and Gender Disparities
WASHINGTON, D.C.–New research from the FINRA Investor Education Foundation offers insights into the financial knowledge and habits of incarcerated women across multiple measures of financial capability and literacy, exposing the deep financial challenges facing women in prisons.
WASHINGTON—The Securities and Exchange Commission (SEC), Municipal Securities Rulemaking Board (MSRB), and FINRA today announced the opening of registration for a virtual Compliance Outreach Program for Municipal Advisors. The webcast program will be held Thursday, August 13, 2020, from 1 p.m. to 3 p.m. ET. Additional information, including the agenda, is available on SEC.gov.
Maureen Jensen and Eric Noll Appointed as New Public Governors
WASHINGTON – The FINRA Board of Governors has unanimously elected Eileen Murray, former Co-CEO of Bridgewater Associates, LP, as Chairperson effective at FINRA’s Annual Meeting in August. In addition, Maureen Jensen, former Chair and CEO of the Ontario Securities Commission (OSC), and Eric Noll, CEO of Context Capital Partners, have been appointed to the FINRA Board as public governors, also effective at the August Annual Meeting.
SG Americas Securities to Pay $3.1 Million in Total Fines to FINRA and SEC
WASHINGTON—FINRA announced today that it has fined SG Americas Securities, LLC (SGAS) $1.55 million for submitting inaccurate trade data (known as “blue sheets”) to FINRA for more than seven years. Additionally, the firm must also certify within 90 days of this settlement that it conducted a comprehensive review and revised its systems and procedures related to the deficiency.
WASHINGTON – With great sadness, FINRA today announced that Thomas Gira, Executive Vice President of Market Regulation and Transparency Services, passed away on Saturday, June 20. He was 58.
“Tom was a beloved and devoted husband and father, as well as a tremendous leader, colleague and friend, and we are enormously heartbroken by his passing. We extend our most sincere condolences to Tom’s family, who are in our thoughts and prayers during this difficult time,” said President and CEO Robert Cook.
Board Approves Annual Financial Report, Enforcement Digital Transformation Initiative and Three Rulemaking Items
WASHINGTON – FINRA's Board of Governors met virtually on June 10 and 11. During the meeting, the Board approved three rulemaking items and approved the organization's Annual Financial Report, which FINRA issues each year to provide transparency regarding its finances. The 2019 report will be published in the coming weeks.