Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has entered into final settlements with four additional firms to settle charges relating to the sale of Auction Rate Securities (ARS) that became illiquid when auctions froze in February 2008.
News Releases & Statements
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has barred broker William Joseph Boyle from the securities industry for wrongfully converting and using funds from customer accounts and for failing to cooperate with FINRA investigators.
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) has announced today that it has fined Centaurus Financial, Inc. (CFI), of Orange County, CA, $175,000 for its failure to protect certain confidential customer information.
Washington, DC - The Financial Industry Regulatory Authority (FINRA) is proposing a major expansion of its BrokerCheck service - to make records of final regulatory actions against brokers permanently available to the public, regardless of whether they continue to be employed in the securities industry. Under current rules, a broker's record generally becomes unavailable to the public two years after he or she leaves the securities industry and is therefore no longer under FINRA's jurisdiction.
Washington, DC — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Fifth Third Securities, Inc., (FTS) of Cincinnati, OH, $1.75 million for a series of violations related to variable annuity sales and exchanges.
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Edward D. Jones & Co., L.P. of St. Louis $900,000 for its failure to timely deliver official statements to customers who purchased new-issue municipal securities and related supervisory and recordkeeping failures.
Washington, DC - Military spouses can apply until April 30, 2009, to the competitive FINRA Foundation Military Spouse Fellowship Program, one of many efforts launched by the FINRA Investor Education Foundation to increase the financial knowledge of military servicemembers and their families.
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Morgan Stanley & Co. $3 million - and ordered it to pay more than $4.2 million in restitution to 90 Rochester, NY-area retirees
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Wachovia Securities, LLC and First Clearing, LLC, both of St. Louis, MO, $1.1 million for the firms' failure to provide more than 800,000 required notifications to customers over a 5-year period ending in 2008. As a part of the settlement with FINRA, the firms are required to retain an independent consultant to review their supervisory systems and processes.
Washington, DC - FINRA announced today that it has fined 25 broker-dealers a total of $2,145,000 for failures related to their completion of FINRA's (then NASD's) firm self-assessment of mutual fund breakpoint discount compliance.