LockBit, one of the most deployed ransomware variants in recent years, continues to impact organizations across the globe, including FINRA member firms. Since November of 2023, FINRA has received reports from several member firms related to cyber incidents allegedly perpetrated by LockBit. The reported incidents varied in severity from no impact to significant disruptions in firms’ business operations. As a result, the Cyber and Analytics Unit (CAU) within FINRA’s Member Supervision Program is notifying firms of the increased activity of this threat actor to heighten awareness and visibility of this risk. CAU is also providing a compilation of resources that outline effective practices firms may consider in response to this elevated risk.
As previously announced, beginning Monday, November 6, 2023, as described in Regulatory Notice 22-28 FINRA will require firms to report transactions in U.S. dollar-denominated foreign sovereign debt securities to TRACE.
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
SummaryLow-priced securities1 tend to be volatile and trade in low volumes. It may be difficult to find accurate information about them. There is a long history of bad actors exploiting these features to engage in fraudulent manipulations of low-priced securities. Frequently, these actors take advantage of trends and major events—such as the growth in cannabis-related businesses or the ongoing
Summary
FINRA warns member firms of an ongoing phishing campaign that involves fraudulent emails (see sample in Appendix) purporting to be from “FINRA SUPPORT” with the email address “[email protected]”. The email asks the recipient to pay attention “to the report attached below that requires your immediate response” and states that “[t]he attachment contains our updated Public Policy
In March 2004, NASD convened a panel of industry experts and investor advocates to assess the challenges facing the corporate debt market and make recommendations for possible improvements. The objective of the Corporate Debt Market Panel was to review and make recommendations to the NASD Board of Governors regarding how to best ensure market integrity and investor protection in the corporate
The number of shares in the market directly influences the value of those shares, and therefore the investments holding them. Anything that changes that count, no matter how many or how few, MUST be reported and published in order for investors to make informed decisions. There is NO situation where the dilution or concentration of available shares should be withheld from investors.
We should be able to know what goes on in this insider trading with the but money. The stuff that goes in dark pools as well. All information should be accesible . How is this fair to the retail investor? Just Bc I have a certain amount of money or no money I’m robbed of what I work hard for and it’s never a fair game .
You should not be able to sell something you don’t own. If borrowed; must have in possession and not “ we can get them later”. Also fail to delivers must be covered in a shorter timeframe. Honestly there should not be any fails to deliver. Short information should be readily available and not 2 days out. After the fact.
I would like to see a more transparent market with instant short position reporting to the general public. I would also like to see instant reporting of any failure-to-delivers. I think this information should be public to any retail investor instantly and easily with no delays. I believe this will help limit manipulation and allow the market to be free and fair.
