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Washington, DC - FINRA announced today that it has fined GunnAllen Financial, Inc., of Tampa, FL $750,000 for its role in a trade allocation scheme conducted by the firm's former head trader, as well as for various Anti-Money Laundering (AML), reporting, record-keeping and supervisory deficiencies.
FINRA is publishing its quarterly OTCBB/OTC Equities High Price Dissemination List for the third quarter of 2019. This updated list of OTC equity securities eligible for trade report dissemination for trades of fewer than 100 shares is effective as of December 20, 2019. To view changes, visit the Daily List: Security Attribute Changes page, select the “Unit of Trades” filter and enter December 19
The Financial Industry Regulatory Authority (FINRA) announced today that its Board of Governors approved a rule proposal that would impose expungement procedures requiring arbitrators to take specific steps, including issuing a written explanation, before recommending expungement of information related to arbitration cases from a registered person's Central Registration Depository (CRD) record.
FINRA Identifies Energy Stocks as Latest "Pump and Dump" Scheme
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Morgan Stanley DW Inc. (now known as Morgan Stanley & Co. Incorporated) $1.5 million and ordered the firm to pay more than $4.6 million in restitution for rule violations relating to the sale of corporate bonds to retail customers at excessive prices. The firm was cited for charging
WASHINGTON – FINRA announced today that it has named Greg Ruppert as Executive Vice President, National Cause and Financial Crimes Detection Programs. Ruppert will join FINRA March 23 and will report directly to Bari Havlik, Executive Vice President, Member Supervision.
“Detecting fraud and addressing it quickly is core to our mission of investor protection and market integrity,” said Havlik, “
Summary
The 2021 Renewal Program begins on November 16, 2020, when FINRA makes the Preliminary Statements available to all firms in E-Bill. Preliminary Statements are not mailed to firms.
Firms should note the following key dates in the renewal process:
October 19, 2020 Firms may begin submitting post-dated Form U5 and BR Closing/Withdrawal filings via CRD/IARD.
November 1, 2020
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.
Background
In March 2017, FINRA issued a Special Notice on its engagement programs as part of FINRA360, its comprehensive review of its operations. In response to the Special Notice, FINRA received a number of comments and suggestions regarding the usefulness of some advisory committees, their membership and their effectiveness as a vehicle for dialogue between FINRA and member firms. After
SR-FINRA-2019-009 has been approved by the SEC. Effective May 8, 2019, this rule will no longer be applicable. Please consult the appropriate FINRA rule.
(a)
/01 Reserved.
/02 Information to be Disclosed
Statements of accounts to customers must clearly and prominently disclose on the front of the statement:
1. the identity of the introducing and carrying