Summary
FINRA has recently observed an increase in fraudulent options trading being facilitated by (1) account takeover schemes (sometimes referred to as account intrusions), through which a bad actor gains unauthorized entry to a customer’s brokerage account; and (2) the use of new account fraud1 by a bad actor who fraudulently establishes a brokerage account through identity theft.
FINRA has taken disciplinary actions against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).
A member firm may include related performance information in institutional communications concerning Section 3(c)(1) Funds, subject to the stated conditions discussed in the letter.
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to: (1) amend the standardized membership application forms — Form NMA (New Membership Application Form) and Form CMA (Continuing Membership Application Form) — required under Rule 1013 (New Member Application and Interview) and Rule 1017 (
FINRA will be performing scheduled maintenance to the OTCE.FINRA.org and OTCTransparency.FINRA.org websites on Saturday, September 12, 2020, from approximately 10 a.m. to 4 p.m. ET. During this time, these websites will be unavailable to users.
Please contact FINRA Support with any questions regarding this notice.
