On this episode, we hear from members of both the Vulnerable Adults and Seniors (VAST) Intake and Investigations teams to hear how the groups work with individual investors, firms, states and other regulators to prevent and detect financial exploitation of senior and other vulnerable investors.
May 14 – 16, 2024 • Washington, DC. FINRA's premier event—this conference provides the opportunity for practitioners, industry peers and regulators to exchange ideas on today's most timely compliance and regulatory topics. Register now!
Managing a retirement account takes some work. Your plan administrator generally handles your portfolio's actual transactions and the recordkeeping and reporting, but you decide when and how to reallocate and rebalance your assets.Beyond keeping tabs on the performance of your portfolio, you’ll want to know your plan’s rules and procedures and how much your plan and its investments are
FINRA announced today that it has fined M1 Finance LLC $850,000 for social media posts made by influencers on the firm’s behalf that were not fair or balanced, or contained exaggerated, unwarranted, promissory, or misleading claims.
In order to perform system maintenance, the FINRA Test Facility (NTF) will be unavailable for client testing for all products on Friday, May 10, 2024, from 4:30 p.m. ET until the end of the day.Production systems are unaffected by this event. NTF will become available again for all products starting May 13, 2024. Please contact FINRA Product Management&
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend FINRA Rule 1240.01 to reopen the period by which certain participants in the Maintaining Qualifications Program will be able to complete their prescribed 2022 and 2023 continuing education content.
In accordance with the SEC’s amendments to Exchange Act Rule 15c6-1(a) to shorten the standard settlement cycle from two business days (T+2) to one business day (T+1), FINRA will sponsor a final User Acceptance Test (UAT) to allow clients to test the changes for T+1 Settlement for the Over-The-Counter Reporting Facility (ORF) and the Alternative Display Facility (ADF). The test will
FINRA announced today that it has sanctioned four firms—M1 Finance LLC, Open to the Public Investing, Inc., SoFi Securities LLC, and SogoTrade, Inc.—a combined $2.6 million, including over $1 million in restitution to retail customers enrolled in fully paid securities lending programs and fines of $1.6 million for the firms’ related supervisory and advertising violations.
FINRA announced today that it has fined Morgan Stanley Smith Barney LLC $1.6 million for the firm’s repeated failures to timely close out failed inter-dealer municipal securities transactions and to take prompt steps to obtain physical possession or control of municipal security positions that are short more than 30 calendar days, and related supervisory failures.
FINRA announced that it has promoted Michael Solomon to Executive Vice President of Examinations and Membership Application Program, effective immediately. Solomon has taken on an expanded leadership role since rejoining FINRA in 2022 as a Senior Vice President and Head of Examinations. Solomon continues to report to Greg Ruppert, Executive Vice President, Member Supervision.
