FINRA announced today that it has fined Citi International Financial Services LLC, a subsidiary of Citigroup, Inc., $600,000 and ordered more than $648,000 in restitution and interest to more than 3,600 customers for charging excessive markups and markdowns on corporate and agency bond transactions, and for related supervisory violations.
WASHINGTON—FINRA announced today that it has fined Barclays Capital Inc. (Barclays Capital) $2 million for failing to comply with its best execution obligations in connection with its customers’ electronic equity orders.
From January 2014 through February 2019, Barclays Capital owned and operated an alternative trading system known as LX. Barclays Capital routed all its customers’ marketable
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to adopt FINRA Rule 6897(b) (CAT Cost Recovery Fees) to implement a Consolidated Audit Trail (“CAT”) cost recovery fee designed to permit FINRA substantially to recoup its designated portion of the reasonably budgeted CAT costs of the National Market System Plan Governing the Consolidated Audit Trail (the “CAT NMS Plan” or “Plan”) for the period of July 16, 2024 through December 31, 2024.
TO: All NASD Members and Level 2 and Level 3 Subscribers
On Tuesday, May 19, 1987, 21 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/NMS to 2,893. These 21 issues, which will begin trading under real-time trade reporting, are entering NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary
TO: All NASD Members and Other Interested Persons
LAST DATE FOR COMMENTS: August 9, 1986.
The National Association of Securities Dealers, Inc. (NASD), is requesting comments on a proposed amendment to Section 2 of Schedule G of the NASD By-Laws. The proposed amendment would require NASD members to report transactions in listed securities executed between 4 p.m. and 4:30 p.m. Eastern Time to the
(a) Before Panel Appointment
Except as provided in paragraph (c), a party may amend a pleading at any time before the panel has been appointed. Panel appointment occurs when the Director sends notice to the parties of the names of the arbitrators on the panel.
(1) To amend a statement of claim that has been filed but not yet served by the Director, the
Firm Ordered to Pay $4.4 Million in Restitution to Approximately 2,400 Affected Customers
WASHINGTON—FINRA announced today that Transamerica Financial Advisors, Inc. (TFA) has agreed to pay approximately $4.4 million in restitution to approximately 2,400 customers for failing to supervise its registered representatives’ recommendations of three different products - variable annuities, mutual
I oppose restrictions on the public's ability to invest in complex products for numerous reasons.
1. The definition of a complex investment is vague, arbitrary, and subject to administrative change in the future. This can cause a new risk for investors who may hold these products now but may be restricted from them in the future, forcing them to sell the products.
2. Being a complex
NO NEED TO TEST ANYONE BEFO
(a) No member or person associated with a member shall cause to be executed an order to buy or sell a security or a related financial instrument when such member or person associated with a member causing such order to be executed has material, non-public market information concerning an imminent block transaction in that security, a related financial instrument or a security underlying the
