FINRA announced today that it has expelled APS Financial Corporation, located in Austin, Texas, barred the firm’s former President, George Conwill, and barred Peter Aman, a former broker at the firm, in a scheme which overcharged an elderly investor by $1.2 million.
News Releases & Statements
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) significantly expanded and enhanced its investor protection and market regulation capabilities in 2010 in each of the areas central to its investor protection mission
WASHINGTON - The FINRA Investor Education Foundation (FINRA Foundation) today launched a dynamic interactive Web resource to display the results of America's first State-by-State Financial Capability Survey, which was also released today.
WASHINGTON-FINRA announced today that it has filed a notice seeking a Temporary Cease and Desist Order (TCDO) against San Antonio-based brokerage Pinnacle Partners Financial Corporation and its President, Brian K. Alfaro.
Goldman Sachs to Pay $650,000 for Failing to Disclose Wells Notices
WASHINGTON - The Securities and Exchange Commission and Financial Industry Regulatory Authority (FINRA) today announced that the annual CCOutreach BD National Seminar will be held on Feb. 8, 2011, at the SEC's Washington, D.C., headquarters.
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that Samuel Gaer, currently President of Tragara Alpha Partners and formerly Chief Information Officer (CIO) of NYMEX Holdings, will join the organization as CIO and Executive Vice President for Business Services.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has selected J. Bradley Bennett, a partner at the law firm Baker Botts in Washington, DC, as its new head of Enforcement. Bennett will start at FINRA on January 1 and takes over from James Shorris, who has been acting Chief of Enforcement since Susan Merrill departed the organization last March.
WASHINGTON - The Financial Industry Regulatory Authority (FINRA) today announced that it has fined the former Ferris, Baker Watts LLC, acquired by RBC Wealth Management,, $500,000 for inadequate supervision of sales of reverse convertible notes to retail customers as well as unsuitable sales of reverse convertibles to 57 accounts held by elderly customers who were at least 85 years old and customers with a modest net worth.