WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Deutsche Bank Securities Inc. $1.4 million for violating Regulation SHO, FINRA's short interest reporting rule and for related supervisory failures.
News Releases & Statements
FINRA announced today that it fined Scottrade, Inc. $2.6 million for failing to retain a large number of securities-related electronic records in the required format, and for failing to retain certain categories of outgoing emails.
FINRA today issued a new Investor Alert—Tools of the Fraud Trade: Phones and Emotions—to warn investors not to send money or provide personal information associated with a widespread Internal Revenue Service impersonation scam that is timed to coincide with the recent deadline for anyone who filed a federal tax extension this past April.
FINRA said today that Chairman and CEO Richard Ketchum, 64, has announced his plan to retire in the second half of 2016. The Board of Governors will conduct a search for his successor that will take into consideration internal and external candidates.
FINRA announced today that it has ordered five firms to pay restitution estimated at more than $18 million, including interest, to affected customers for failing to waive mutual fund sales charges for eligible charitable organizations and retirement accounts.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today issued a new Investor Alert, Binary Options: These All-Or-Nothing Options Are All-Too-Often Fraudulent. FINRA published the alert to warn investors that trading binary options can be extremely risky. Unlike other types of options contracts, binary options are all-or-nothing propositions. When a binary option expires, it either makes a pre-specified amount of money, or nothing at all, in which case the investor loses the entire investment.
FINRA announced today that it has ordered 12 firms to pay restitution totaling more than $4 million and fines totaling more than $2.6 million for failing to apply available sales charge discounts to customers' purchases of Unit Investment Trusts (UITs), and related supervisory failures.
FINRA issued a new Investor Alert, Sorry, This One's Not a Winner: Don't Get Fooled by a Lottery Scam. FINRA is publishing the alert to warn investors about scammers who contact investors with promises of significant cash, prizes and lottery winnings.
FINRA issued Regulatory Notice 15-37 requesting comment on proposed rules addressing the financial exploitation of seniors and other vulnerable adults.
FINRA announced today that it ordered Santander Securities LLC to pay approximately $4.3 million in restitution to certain customers who were solicited to purchase Puerto Rican Municipal Bonds (PRMBs).