WASHINGTON - The Financial Industry Regulatory Authority (FINRA), on Monday November 12, significantly increased transparency in the so-called "To-Be-Announced" (TBA) market for agency pass-through mortgage-backed securities. This market represents more than $270 billion traded on an average daily basis in 8,400 trades.
News Releases & Statements
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that it has expelled NY-based Hudson Valley Capital Management and barred Chief Executive Officer, Mark Gillis, from the securities industry for defrauding its clearing firm and customers by using their funds and securities to cover losses caused by Gillis' manipulative day trading.
WASHINGTON and AMSTERDAM — In October 2012, Richard G. Ketchum, Chairman and CEO of the Financial Industry Regulatory Authority (FINRA) and Ronald Gerritse, Chairman of the Executive Board of the Netherlands Authority for the Financial Markets (AFM) signed a memorandum of understanding (MoU) on information-sharing with a view to strengthening and improving cooperation.
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that it has filed a Temporary Cease-and-Desist Order (TCDO) to halt further fraudulent sales activities by Michigan-based WR Rice Financial Services and its owner Joel I. Wilson, as well as the conversion of investors' funds or assets.
Customers to Receive Approximately $12 Million in Restitution. Firm Fined $2.3 Million; President and Head Trader Fined and Suspended.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced that it has expelled EKN Financial Services, Inc. of Melville, NY, for numerous compliance violations and for allowing its CEO, Anthony Ottimo, to act as a supervisor after being barred from acting in that capacity by the Securities and Exchange Commission (SEC) in June 2008.
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Guggenheim Securities LLC of New York $800,000 for failing to supervise two collateralized debt obligation (CDO) traders who engaged in activities to hide a trading loss.
WASHINGTON — The FINRA Investor Education Foundation will participate in a series of Investor Fraud Summits sponsored by the United States Department of Justice and the United States Securities and Exchange Commission (SEC) at several venues across the country.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today issued a new Investor Alert called When Trading Stops: What You Need to Know About Halts, Suspensions and Other Interruptions. While trading in most stocks takes place without interruption, FINRA's new Alert explains how, when and why interruptions in trading occur, and discusses both what brokers are required to do and what investors should do in these situations.
WASHINGTON - The Financial Industry Regulatory Authority (FINRA), along with NYSE Arca, Inc., The NASDAQ Stock Market LLC, NASDAQ OMX BX, Inc., and BATS Exchange, Inc. today announced that they have censured and fined Hold Brothers On-Line Investment Services, LLC $3.4 million for manipulative trading activities, anti-money laundering (AML), and other violations.