Retransmission Data Feed Policy
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith, Inc. $5 million for negligent disclosure failures in connection with the sale of five-year senior debt notes to retail customers. In particular, Merrill Lynch failed to adequately disclose certain costs, making it appear that the fixed costs were lower
FINRA Issues Guidance on Master and Sub-Account Arrangements
Technology Based Innovations for Regulatory Compliance in the Securities Industry outlines recent regulatory technology (RegTech) developments within the securities industry and potential opportunities and implications these technologies may have for broker-dealers.
The report follows an in-depth review conducted by FINRA on the emergence of RegTech tools within the securities industry and
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WASHINGTON — FINRA announced today that a FINRA hearing panel permanently barred broker Bruce Martin Zipper of Miami, FL, for continuing to conduct firm business while serving a three-month suspension. The hearing panel also expelled his firm, Dakota Securities, from FINRA membership for not adequately supervising Zipper, allowing him to associate while suspended (and later while statutorily
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has censured Stephens Inc., of Little Rock, Arkansas, and fined the firm $900,000 for inadequately supervising firm-wide internal "flash" emails sent by its research analysts to convey information about companies and industries the firm covered. These failures created the risk that the flash emails
FINRA's Examination team carries out a core function of FINRA's business by examining every member firm at least every four years and as often as annually, depending on the risk profile of each individual firm. On this episode, leaders from FINRA's Exam program join us for a deep dive into how the program works and what firms can expect during routine firm exams.
New Equities Supervision Reports Are Designed to Help Firms Spot and Halt Potential Manipulation
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today made available to member firms its first monthly cross-market equities supervision report cards, aimed at helping firms identify and halt spoofing and layering activity.
"FINRA is marshaling its ability to look across
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FINRA may grant waivers, in exceptional cases, or exemptions for qualification exams, pursuant to FINRA Rule 1210.3, FINRA Rule 1220 and Rule 9600 Series, and accept other standards as evidence of an applicant’s qualification for registration, such as experience in the securities industry, educational achievement, or qualification by a specified foreign entity. FINRA may also consider an
