The bipartisan bill, Investment Adviser Oversight Act of 2012, introduced today is an important and thoughtful effort to address a serious gap in investor protection.
News Releases & Statements
WASHNGTON — A Financial Industry Regulatory Authority (FINRA) hearing officer has expelled Pinnacle Partners Financial, Corp., a broker-dealer based in San Antonio, TX, and barred its President, Brian Alfaro, for fraudulent sales of oil and gas private placements and unregistered securities.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced that it has fined Goldman, Sachs & Co. $22 million for failing to supervise equity research analyst communications with traders and clients and for failing to adequately monitor trading in advance of published research changes to detect and prevent possible information breaches by its research analysts.
WASHINGTON - The FINRA Investor Education Foundation released a new study revealing that women were more likely to engage in costly credit card behaviors than men.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that a FINRA hearing panel ruled that Long Island-based David Lerner Associates, Inc. (DLA) charged excessive markups on municipal bond and collateralized mortgage obligation (CMO) transactions over a two-year period, causing the firm's retail customers to pay unfairly high prices and receive lower yields than they otherwise would have received.
FINRA announced today that it has fined Citi International Financial Services LLC, a subsidiary of Citigroup, Inc., $600,000 and ordered more than $648,000 in restitution and interest to more than 3,600 customers for charging excessive markups and markdowns on corporate and agency bond transactions, and for related supervisory violations.
WASHINGTON - Now in its seventh year, the FINRA Investor Education Foundation’s Military Spouse Fellowship Program has opened the application process for its class of 2012 military spouses. The FINRA Foundation Spouse Fellowship Program provides military spouse recipients with the education and training needed to earn the Accredited Financial Counselor® (AFC®) designation. Military spouses can apply to become a member of the 2012 class of fellows until March 31, 2012.
FINRA Foundation and United Way Announce Over $1.3M to Support Grassroots Financial Education
FINRA today issued a new Investor Alert called It Pays to Understand Your Brokerage Account Statements and Trade Confirmations to help guide investors through the key elements of their account statements and trade confirmations.
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that it has filed a complaint against Charles Schwab & Company charging the firm with violating FINRA rules by requiring its customers to waive their rights to bring class actions against the firm.