Kitsman Investment Management Comment On Regulatory Notice 25-05
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FINRA has launched a series of initiatives to support members, markets and investors
April 23, 2025
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Donald Conrad Comment On Regulatory Notice 25-05
Date: April 24, 2025
Ms. Jennifer Piorko Mitchell
Office of the Corporate Secretary
FINRA 1735 K Street
Washington, DC 20006
Re: Request for Comment on Regulatory Notice 25-05
Dear Ms. Mitchell,
Harry V Comment On Regulatory Notice 25-05
Dear Ms. Mitchell,
I appreciate the opportunity to comment on FINRA’s proposal to streamline the requirements governing outside business activities (OBAs) and private securities transactions (PSTs), as outlined in Regulatory Notice dated April 2025.
Gary Cutson Comment On Regulatory Notice 25-05
Re: FINRA Proposed Rule 3290
2022073322301 TradeUP Securities, Inc. fka Marsco Investment Corp. CRD 18483 and US Tiger Securities, Inc. CRD 120583 AWC vr (2025-1748218799037).pdf
US Tiger and TradeUP are affiliated firms owned by an offshore holding company. Both firms serviced foreign financial institution omnibus accounts that transacted in thinly traded low-priced securities. Between November 2019 and March 2021 (US Tiger) and between April 2021 and June 2023 (TradeUP), the firms’ AML programs were not reasonably
designed to detect and report potentially suspicious transactions given this business. The firms also failed to conduct appropriate due diligence on correspondent accounts for foreign financial institutions.