WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today issued a voluntary Interim Form for Funding Portals designed for prospective crowdfunding portals under the JOBS Act. Those intending to become a funding portal may voluntarily submit information regarding their business on the interim form.
News Releases & Statements
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) marked 2012 with significant accomplishments in detecting fraudulent activity, implementing cross-market surveillance, increased transparency of securities markets and fulfilling its regulatory mandate to protect investors, assessing $68 million in fines, ordering a record $34 million in restitution to harmed customers and taking measures to ensure market integrity.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced that it has sanctioned five firms a total of more than $4.48 million for unfairly obtaining the reimbursement of fees they paid to the California Public Securities Association (Cal PSA) from the proceeds of municipal and state bond offerings.
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that it has ordered Pruco Securities, LLC of Newark, New Jersey, to pay more than $10.7 million in restitution, plus interest, to customers who placed mutual fund orders with Pruco via facsimile or mail (paper orders) from late 2003 to June 2011 and received an inferior price for their shares.
WASHINGTON — Better Business Bureau and the FINRA Investor Education Foundation today launched a new consumer website, BBB Smart Investing, which is designed to help investors make smarter investing decisions while avoiding fraud, risky investments and unlicensed brokers.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced that Carol Anthony (John) Davidson, retired Senior Vice President, Controller and Chief Accounting Officer of Tyco International, will join FINRA's Board of Governors. Mr. Davidson, who will begin his term on Jan. 1, fills the seat vacated by Ellyn Brown.
WASHINGTON — The SEC's Office of Investor Education and Advocacy and the Financial Industry Regulatory Authority (FINRA) have issued a new Investor Alert called Year-End Investment Considerations for Individual Investors.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has filed a complaint against Roman Sledziejowski, President and owner of Brooklyn, NY-based brokerage firm TWS Financial, LLC, charging him with defrauding three customers of more than $4 million through a scheme, carried on primarily outside the securities firm, involving converting client funds to his personal use while providing falsified account statements to his customers.
TOKYO and WASHINGTON — The U.S. Financial Industry Regulatory Authority (FINRA) and Japan Securities Dealers Association have entered into a Memorandum of Understanding (MOU) to support more robust cooperation between the two regulators.
WASHINGTON - Richard G. Ketchum, Chairman and CEO of the Financial Industry Regulatory Authority (FINRA) released the following statement on the announcement of the resignation of Mary L. Schapiro, Chairman of the Securities and Exchange Commission, and the appointment of Elisse B. Walter as her successor: