Firm Made Misrepresentations to Customers and Violated Reg BI as well as FINRA’s Suitability and Supervision Rules
WASHINGTON—FINRA announced today that it has expelled broker-dealer SW Financial for multiple violations, including making misrepresentations to customers in its sales of private placement offerings of pre-initial public offering (pre-IPO) securities, churning customer accounts, and
Please do not limit access. There is already significant extra information provided before being able to invest, and these funds provide easy access to a more efficient use of capital for younger investors, providing a larger set of assets on which I will pay taxes in the future.
The proposed amendment to FINRA 4560 is a laughable attempt at improving naked short selling internal control measures, actual regulatory action, or really any kind of further obligation on the part of the involved broker-dealers. There have been hundreds if not thousands of regulatory "actions" taken by FINRA related to short sale, and misreporting/misclassification of shorts. This
There should be no provision that attempts to limit my right to invest in leveraged or inverse funds, that is my choice and no one else. What should ONLY be the focus is transparency as to the risks and accurate information provided through disclosures and financial reporting and that is where the regulatory emphasis should be.
Please require weekly reporting. Please provide the reports to the public for free and transparent information through FINRA website and not just exchanges. Please conduct audits and other proactive enforcement measures.
(a) Except as otherwise provided in this Rule, each member shall once every calendar year provide in writing (which may be electronic) to each customer the following items of information:
(1) FINRA BrokerCheck Hotline Number;
(2) FINRA Web site address; and
(3) A statement as to the availability to the customer of an investor brochure that includes information
The Arbitrator's Guide provides arbitrators important information and access to the forms necessary to complete their assignments.This guide contains general information about FINRA, tips for contacting staff in the four regional offices by email and important information about an arbitrator's duties and obligations. The Arbitrator's Guide also contains resources to help you learn
Short interest needs to be reported everyday, just like volume and institutional holdings this is vital information to prevent over shorting a stock or non compliant behavior that limits price discovery and normal market dynamics.
Executive Summary
The purpose of this Election Notice is to notify firms of the upcoming elections to fill vacancies on the FINRA Regional Committees, and the mailing of ballots to eligible firms.
As detailed below, the District 2 seats on the West Region Committee are the only contested seats. Therefore, only firms that are members of FINRA in District 2 as of the close of business on Monday,
I M P O R T A N T
OFFICERS, PARTNERS AND PROPRIETORS
TO: All NASD Members and Other Interested Persons
Although it appears at this writing that the provisions under TEFRA with respect to withholding on dividends and interest will be repealed, members should be aware that other provisions of the Act - primarily the expanded reporting requirements - are still effective for transactions occurring
