Executive Summary
Effective April 1, 1996, tier sizes for 1,024 Nasdaq National Market securities will be revised in accordance with Paragraph 2451a7 of the Rules of Practice and Procedure for the Small Order Execution System (SOESSM).
For more information, please contact Nasdaq Market Operations at (203) 378-0284.
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Morgan Stanley Smith Barney LLC $3.25 million and required the firm to pay approximately $9.78 million in restitution to more than 3,000 affected customers for failing to supervise its representatives’ short-term trades of unit investment trusts (UITs).
A UIT is an investment company that offers
This follow-up to the September 2021 targeted exam (sweep) of firms’ practices related to their acquisition of customers through social media channels and their sharing of customers’ usage information with affiliates and non-affiliated third parties summarizes selected practices FINRA has observed firms implement to this point in the sweep.
Proposed Rule Change to Adopt FINRA Rule 4553 to Establish a Fee Schedule for Access to Alternative Trading System Volume Information Published on FINRA’s Website
As part of its multi-year Digital Experience Transformation, FINRA is using an API Developer Center (developer.finra.org) to support automation. The API Developer Center website includes information designed to assist clients interested in using API technology to gain access to OTC Transparency data. The available API endpoints provide a mechanism to retrieve this data using a machine-to-machine
It should be up to individual investors to decide for themselves whether a particular product is appropriate for them to invest in. Having the inability to invest in complex funds or ETFs would limit me to actually beat the market . . . which it is why I use them as part of my investment strategy. Having to go through a special process in order to invest in such funds is like taking a test in
Trader and Supervisor Suspended and Fined
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Cantor Fitzgerald & Co. $6 million and ordered disgorgement of nearly $1.3 million in commissions, plus interest, for selling billions of unregistered microcap shares in violation of federal law. Cantor Fitzgerald & Co. was also sanctioned
Firm Also Fined $350,000 for Failing to Reasonably Supervise Recommended Securities Transactions and Other Violations
WASHINGTON—FINRA announced today that it sanctioned Worden Capital Management LLC (WCM) more than $1.5 million, including approximately $1.2 million in restitution to customers whose accounts were excessively traded by the firm’s representatives, and a $350,000 fine for
