News Releases & Statements

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FINRA Fines Santander Securities $2 Million for Deficiencies in Its Structured Product Business and Unsuitable Reverse Convertible Sales
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Santander Securities of Puerto Rico $2 million for deficiencies in its structured product business
FINRA Fines UBS Financial Services $2.5 Million; Orders UBS to Pay Restitution of $8.25 Million for Omissions That Effectively Misled Investors in Sales of Lehman-Issued 100% Principal-Protection Notes
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined UBS Financial Services, Inc., $2.5 million, and required UBS to pay $8.25 million in restitution for omissions and statements made that effectively misled some investors
FINRA Sanctions Two Firms and Seven Individuals for Selling Private Placements Without Conducting a Reasonable Investigation
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) today announced it has sanctioned two firms and seven individuals for selling interests in private placements without conducting a reasonable investigation.
FINRA Hearing Panel Expels AIS Financial, Inc. for Systemic Anti-Money Laundering Violations
WASHNGTON - A Financial Industry Regulatory Authority (FINRA) hearing panel has expelled AIS Financial, Inc., a broker-dealer based in Westlake Village, CA, for failing to implement and enforce an anti-money laundering (AML) program.
FINRA Foundation Issues Take Control of Your Financial Future: Tips to Think About at Tax Time and Beyond
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) Investor Education Foundation today released Take Control of Your Financial Future: Tips to Think About at Tax Time and Beyond
FINRA Fines Southwest Securities, Inc. $650,000 for Compliance Failures That Permitted Correspondent Firm Cutler Securities to Cause a $6.3 Million Single-Day Loss Through Improper Short Sales
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Southwest Securities, Inc., of Dallas, $650,000 for deficiencies in due diligence, risk assessment and written supervisory procedures that permitted one of its correspondent firms, Cutler Securities, to create risk for Southwest through improper short sales.
FINRA Warns of Facebook-Linked Pre-IPO Scams
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) has issued a warning about scams that purport to offer investors' access to pre-IPO shares of well-known social media companies, including Facebook.
FINRA Expels MICG Investment Management and Bars MICG's CEO for Fraud In Connection With MICG's Venture Strategies Hedge Fund
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that it has expelled MICG Investment Management, LLC (MICG) of Newport News, VA, and barred Jeffrey A. Martinovich, the firm's CEO and majority owner, for securities fraud, misusing investors' funds and causing false account statements to be issued to investors in connection with their management of a proprietary hedge fund named MICG Venture Strategies, LLC (Venture Strategies).
FINRA Fines Southwest Securities $500,000 for Paying Former Texas Municipal Issuer Officials and Others to Solicit Municipal Securities Business on its Behalf
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Southwest Securities, Inc. of Dallas $500,000 for using paid consultants to solicit municipal securities business and for violations of other Municipal Securities Rulemaking Board (MSRB) rules.
FINRA Investor Education Foundation and United Way Worldwide Announce Over $1.8 Million in Grants to Support Grassroots Financial Education Projects
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and United Way Worldwide (UWW) have announced over $1.8 million in grants to 15 recipients as part of the Financial Education in Your Community initiative.