WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined New York-based Brown Brothers Harriman & Co. (BBH) $8 million for substantial anti-money laundering compliance failures including, among other related violations, its failure to have an adequate anti-money laundering program in place to monitor and detect suspicious penny stock transactions.
News Releases & Statements
WASHINGTON — The FINRA Investor Education Foundation issued five tips to help consumers both manage their day-to-day financial challenges and build a brighter financial future in 2014.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Banorte-Ixe Securities International, Ltd., a New York-based securities firm that services Mexican clients investing in U.S. and global securities, $475,000 for not having adequate anti-money laundering (AML) systems and procedures in place and for failing to register approximately 200 to 400 foreign finders who interacted with the firm's Mexican clients.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) issued a new Investor Alert called The IRA Rollover: 10 Tips to Making a Sound Decision to help the investing public decide if an IRA rollover is right for them.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has barred David Michael Gutman, a Vice President in the conflicts office of J.P. Morgan Securities, LLC, and Christopher John Tyndall, a former registered representative at Meyers Associates, L.P., from the securities industry for their roles in an insider trading scheme.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and the American Library Association (ALA) have announced $1.19 million in grants to 17 recipients as part of the Smart investing@your library® initiative.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced that it has ordered two St. Louis-based broker-dealers – Stifel, Nicolaus & Company, Incorporated and Century Securities Associates, Inc. – to pay combined fines of $550,000 and a total of nearly $475,000 in restitution to 65 customers in connection with sales of leveraged and inverse exchange-traded funds (ETFs). Stifel and Century are affiliates and are both owned by Stifel Financial Corporation.
FINRA Releases 2014 Regulatory and Exam Priorities
FINRA Fines Barclays $3.75 Million for Systemic Record and Email Retention Failures
FINRA issued a Regulatory Notice soliciting comment regarding an innovative proposal called Comprehensive Automated Risk Data System (CARDS).