News Releases & Statements

Studies Advance Understanding of Financial Capability in the United States WASHINGTON – The FINRA Investor Education Foundation (FINRA Foundation) recently announced the recipients of its higher-education awards created to recognize outstanding analyses by researchers-in-training who seek to advance understanding of consumer financial wellness and the complex relationships among financial literacy, financial capability and financial well-being.

WASHINGTON—FINRA announced today that it has ordered Stifel, Nicolaus & Company, Incorporated to pay approximately $1.9 million in restitution, plus interest, to more than 1,700 customers in connection with early rollovers of Unit Investment Trusts (UITs). FINRA also fined the firm $1.75 million for providing inaccurate information to customers related to rollover costs incurred, and for related supervisory violations.

FINRA Releases Report Highlighting Helpline’s Efforts and Other FINRA Initiatives to Protect Seniors WASHINGTON — FINRA today released a new report illustrating the FINRA Securities Helpline for Seniors’ efforts to provide support, resources and education to senior investors over the last five years.

On April 7, 2020, the SEC’s Office of Compliance Inspections and Examinations (OCIE) released Risk Alerts for Reg BI and Form CRS.  These Risk Alerts set forth OCIE’s expectations for firms’ compliance with Reg BI and Form CRS and provide broker-dealers with information about the scope and content of OCIE’s initial examinations following the compliance date of June 30, 2020.  FINRA will take the same approach as se

WASHINGTON – FINRA announced today that it has named Greg Ruppert as Executive Vice President, National Cause and Financial Crimes Detection Programs. Ruppert will join FINRA March 23 and will report directly to Bari Havlik, Executive Vice President, Member Supervision. “Detecting fraud and addressing it quickly is core to our mission of investor protection and market integrity,” said Havlik, “Under Greg’s leadership, we will build upon the successful work our teams have already done on behalf of investors.”

Washington, DC – Female investors lag behind their male counterparts when it comes to investment knowledge and confidence, according to new research conducted by the FINRA Investor Education Foundation (FINRA Foundation) and the George Washington University School of Business' Global Financial Literacy Excellence Center (GFLEC).

Board Approves Allocations of 2019 Fines and Proposed Trade-Reporting Fees Related to Treasury Securities WASHINGTON – FINRA’s Board of Governors met on March 11 for the first time in 2020. During the meeting, held remotely in light of the coronavirus outbreak, the Board discussed a variety of topics, including FINRA’s long-term planning and financial sustainability.

Treasury Aggregate Statistics to Provide More Transparency in Marketplace WASHINGTON — FINRA today for the first time posted weekly, aggregate data on the trading volume of Treasury securities reported to TRACE®, FINRA’s Trade Reporting and Compliance Engine®.

WASHINGTON—FINRA announced today that Tom Selman, Executive Vice President for Regulatory Policy and Legal Compliance Officer, is retiring after 24 years at the organization. 

WASHINGTON—FINRA announced today that it has promoted Jessica Hopper to Executive Vice President and Head of Enforcement. Hopper has been Acting Head of Enforcement since Susan Schroeder announced her departure in September 2019. Hopper will report directly to CEO Robert Cook.