News Releases & Statements

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Dallas Firm Expelled for Making Fraudulent Private Placements in Massive Ponzi Scheme
FINRA Continues Nationwide Initiative Investigating Broker-Dealers Engaged in Private Placements
Applications Now Available for Military Spouses to Become Accredited Financial Counselors
Washington, DC - The FINRA Investor Education Foundation Military Spouse Fellowship Program has opened the application process for new fellows, and military spouses can apply until April 30, 2010.
FINRA Investor Education Foundation and United Way Worldwide Announce Nearly $1.5 Million in Grants to Support Grassroots Financial Education Projects
Washington, DC - The Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and United Way Worldwide (UWW) have announced nearly $1.5 million in grants to 12 recipients to extend the reach of community-based financial education programs across the country.
FINRA's National Adjudicatory Council Dismisses Charges of Alleged Supervisory Violations by Senior Personnel of Knight Securities
Washington, DC - The National Adjudicatory Council (NAC) of the Financial Industry Regulatory Authority (FINRA) issued a ruling today dismissing charges that Kenneth Pasternak, former CEO of Knight Securities, L.P., and John Leighton, former head of the firm's Institutional Sales Desk, were responsible for supervisory failures in connection with alleged fraudulent sales to institutional customers.
TRACE Reporting of Government Agency Debt, Primary Bond Market to Begin March 1
Washington, DC - Monday, March 1 marks a major expansion of the Financial Industry Regulatory Authority (FINRA) Trade Reporting and Compliance Engine (TRACE) - to include debt issued by federal government agencies, government corporations and government-sponsored enterprises (GSEs), as well as primary market transactions in new corporate debt issues.
FINRA Proposes Further Expansion of Broker Information Publicly Available Through BrokerCheck
The Financial Industry Regulatory Authority (FINRA) announced today that it is seeking authority to significantly expand the amount of information available to the public on current and former securities brokers through its free online BrokerCheck service.
The Chartered Institute for Securities & Investment Announces Partnership With ICMA Centre and FINRA on Diploma in Investment Compliance
The Chartered Institute for Securities & Investment (CISI), the ICMA Centre at the Henley Business School and the Financial Industry Regulatory Authority (FINRA) of the US announce that they have joined forces to support and enhance education, training and certification in financial compliance.
FINRA Fines H&R Block Financial Advisors $200,000 for Inadequate Supervision of Reverse Convertible Notes Sales, Suspends and Fines Broker for Unsuitable Sales to Retired Couple
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) today announced its first enforcement action involving the sales of reverse convertible notes (RCNs)
FINRA Fines Firms $750,000 for Inadequate Anti-Money Laundering Programs, Other Violations
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Penson Financial Services, a Dallas-based securities clearing firm, $450,000 for failing to establish and implement an adequate anti-money laundering (AML) program to detect and trigger reporting of suspicious transactions, as required by the Bank Secrecy Act and FINRA rules and other violations.
FINRA Foundation Announces $1 Million in Grants to Fund Securities Advocacy Clinics
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) Investor Education Foundation today announced $1 million in grants to launch four law school clinics that will provide legal help to underserved investors involved in securities disputes.