But Credit Card Debt and Underwater Mortgages Weigh Heavily on Vets
WASHINGTON — The FINRA Investor Education Foundation (FINRA Foundation) today released a new study that shows veterans are faring slightly better financially than civilians, even as they struggle under the weight of credit card debt and underwater mortgages.
News Releases & Statements
University of Wisconsin-Madison Professor Recognized for Outstanding Service and Research to Advance Investor Protection and Financial Capability in the U.S.
WASHINGTON — The FINRA Investor Education Foundation (FINRA Foundation) today announced that it has awarded Dr. J. Michael Collins the inaugural Ketchum Prize for outstanding service and research to advance investor protection and financial capability in the U.S.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that a FINRA extended hearing panel censured Albany, NY-based broker-dealer C.L. King & Associates, Inc. and fined the firm $750,000 for negligently making material misrepresentations and omissions to issuers in connection with the firm’s redemptions of debt securities on behalf of a hedge fund customer. The hearing panel also found that C.L.
WASHINGTON — The Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) and the Municipal Securities Rulemaking Board (MSRB) today announced the opening of registration for the Compliance Outreach Program for Municipal Advisors.
WASHINGTON — Robert W. Cook, President and CEO of the Financial Industry Regulatory Authority (FINRA) today testified before the U.S. House of Representatives Subcommittee on Capital Markets, Securities, and Investment about FINRA’s operations and regulatory programs, and how FINRA is fulfilling its mission to protect investors and ensure market integrity while facilitating vibrant capital markets.
WASHINGTON — FINRA issued an Investor Alert today warning investors to beware of potential scams touting stocks and other investments promising huge financial gains in the wake of Hurricane Harvey.
The Investor Alert, Beware of Stock Fraud in the Wake of Hurricane Harvey, explains how investors can spot and protect themselves from investment scams associated with the clean-up or rebuilding of the devastated areas.
FINRA today issued an Investor Alert warning investors about the potential risks of participating in initial coin offerings, commonly referred to as ICOs.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today the election of Governors to its Board of Governors.
Stephen M. Cutler, Executive Vice President and Vice Chairman, JPMorgan Chase & Co., was elected as a Large Firm Governor, one of three representatives of large firms on the Board. Cutler has been a FINRA Governor since November 2016, when he was appointed to fill an unexpired term.
Restitution Ordered to Affected Customers
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has expelled New York-based Hallmark Investments, Inc. and barred its Chief Executive Officer, Steven G. Dash, in connection with a scheme to sell shares of stock to customers at fraudulently inflated prices. FINRA also suspended Hallmark representative Stephen P. Zipkin for two years and required him to pay more than $18,000 in restitution to affected customers.
WASHINGTON – The FINRA Investor Education Foundation has awarded fellowships to 50 military spouses seeking to earn their AFC (Accredited Financial Counselor) designation to provide military service members and their families one-on-one and group financial counseling and education.