Washington, DC - FINRA announced today that it has fined GunnAllen Financial, Inc., of Tampa, FL $750,000 for its role in a trade allocation scheme conducted by the firm's former head trader, as well as for various Anti-Money Laundering (AML), reporting, record-keeping and supervisory deficiencies.
News Releases & Statements
Washington, DC - A $5 million fine imposed against American Fund Distributors (AFD) for directed brokerage in 2006 will stand, according to a ruling issued today by the National Adjudicatory Council (NAC), the appeals body of the Financial Industry Regulatory Authority (FINRA).
Washington, D.C. - A Financial Industry Regulatory Authority (FINRA) Hearing Panel today dismissed a November 2004 complaint against H&R Block Financial Advisors alleging sales practices and supervisory violations relating to sales of Enron Corporation bonds during the one-month period immediately preceding Enron's filing for bankruptcy protection on Dec. 2, 2001.
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) issued an Investor Alert today warning investors about the risks of speculating on natural disasters with event-linked securities, such as catastrophe bonds or "cat bonds." Cat bonds offer high yields but can quickly lose most or all of their value if a triggering event, such as a hurricane, earthquake or pandemic, occurs in specified geographical regions.
Washington, DC - The Financial Industry Regulatory Authority (FINRA) is seeking comment on proposed rule amendments that would require registered firms - for the first time - to report allegations of sales practice violations against an individual broker made in arbitration claims or civil lawsuits that do not name the broker as a respondent or defendant.
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) today launched two online resources to help companies and their older workers protect themselves from early retirement scams.
Washington, DC - The Financial Industry Regulatory Authority (FINRA) issued guidance to firms outlining best practices for detecting and preventing unauthorized proprietary trading, often called "rogue" trading. The Notice comes in the wake of several recent cases involving allegations of unauthorized trading that resulted in substantial losses by firms both in the United States and abroad.
"This blueprint marks an important beginning to a debate that is critical to the future of investor protection.
"Today's increasingly complex financial services landscape and fragmented regulatory environment has made it nearly impossible for the average investor to navigate the marketplace and fully understand the risks they may be exposed to and the protections they are entitled to.
New York and Washington, DC — The Financial Industry Regulatory Authority (FINRA), NYSE Regulation, Inc., and participants of the Options Regulatory Surveillance Authority (ORSA), the self-regulatory organizations primarily responsible for surveillance of trading in the U.S. securities markets, are coordinating efforts to heighten the monitoring and investigation of trading activity in issuers that may be subject to credit market-related volatility.
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) today spelled out the options available to investors holding unexpectedly illiquid auction rate securities (ARS) because of recent developments in the credit market that have resulted in many ARS auctions failures.