Washington, DC — A Financial Industry Regulatory Authority (FINRA) Hearing Panel issued a decision that imposed a 90-day suspension, a concurrent 10-day suspension, and a $12,500 fine against Scott Mathis, Chairman and CEO of New York's Investprivate, Inc. (now known as DPEC Capital, Inc.), for failing to disclose tax liens and two customer complaints on his Form U4s. Mathis and
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that a FINRA hearing panel has expelled Plano, TX-based broker-dealer Red River Securities, LLC, barred its CEO Brian Keith Hardwick, and ordered the firm and Hardwick to jointly and severally pay $24.6 million in restitution to customers for fraudulent sales in five oil and gas joint ventures. The hearing panel
SEC Approves a Limited Exception From FINRA Rule 5131(b) to Permit Firms to Rely Upon a Written Representation From Certain Unaffiliated Private Funds
FINRA views the protection of senior investors, as well as baby boomers who are retired or approaching retirement, as a top priority. Because a large number of American investors are approaching retirement and control a substantial portion of investment assets, FINRA encourages firms to review and, where warranted, enhance their policies, procedures and practices, in light of the special issues common to many senior investors. For example, a firm's procedures and controls should take into consideration the age and life stage (whether pre-retired, semi-retired or retired) of their customers. Of particular concern to FINRA is the suitability of recommendations to senior investors, communications targeting older investors, and potentially abusive or unscrupulous sales practices or fraudulent activities targeting senior investors.
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Table of Contents
2.1 Sizes and Counts
Figure 2.1.1 Total Number of FINRA-Registered Firms, 2018−2022
Figure 2.1.2 Firm Distribution by Size, 2018−2022
Table 2.1.3 Firm Distribution by Size, 2018−2022
Figure 2.1.4 Securities Industry Registered Firms by Type of Registration, 2013−2022
Table 2.1.5 Securities Industry Registered Firms by Type of Registration, 2013−2022
Figure 2.
The Report on FINRA’s Examination and Risk Monitoring program is an important reference document addressing more than 20 topics of interest for firms and regulators. On this episode, we talk to three members of the Member Supervision team about some key highlights and how firms can use this extensive document.
FINRA recently announced the creation of a new team, the Office of Regulatory Economics and Market Analysis, which brings together FINRA's Office of the Chief Economist and the Office of Financial Innovation. On this episode, we talk to three leaders from the new group to hear about its mandate and how the new team works to inform FINRA's regulatory policies and programs to advance its mission of investor protection and market integrity.
Summary
FINRA has received reports about increasing numbers and sophistication of ransomware incidents. Ransomware typically involves bad actors gaining unauthorized access to firm systems and encrypting or otherwise accessing sensitive firm data or customer information, then holding that hijacked data for ransom. Some ransomware attacks have become significant threats that include theft of data
Please note: The following information is intended to provide a general overview of the permitted activities of various registration categories, but it is not an exhaustive list. Please refer to Regulatory Notice 17-30, FINRA Rule 1220 and, regarding retired exam categories, NASD Rule 1032 for further details.
Series 6 - Investment Company Products/Variable Contracts Limited Representative
FINRA is responsible for regulating every broker and brokerage firm doing business with the U.S. public. The selected statistics below represent: 1) the work we do as a regulator and 2) an overview of the securities industry based on data we capture.Key FINRA Statistics for 2023Regulatory Actions and Corporate Financing Review 2017 – 2023Key Industry StatisticsRegistered Representatives