Restitution Ordered to Affected Customers
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has expelled New York-based Hallmark Investments, Inc. and barred its Chief Executive Officer, Steven G. Dash, in connection with a scheme to sell shares of stock to customers at fraudulently inflated prices. FINRA also suspended Hallmark representative Stephen P.
WASHINGTON – FINRA announced today that it plans to consolidate its Examination and Risk Monitoring Programs, integrating three separate programs into a single, unified program to drive more effective oversight and greater consistency, eliminate duplication and create a single point of accountability for the examination of firms. The effort is a result of FINRA360, the organization’s ongoing
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) issued an Investor Alert today warning investors about the risks of speculating on natural disasters with event-linked securities, such as catastrophe bonds or "cat bonds." Cat bonds offer high yields but can quickly lose most or all of their value if a triggering event, such as a hurricane, earthquake or pandemic, occurs in specified geographical regions.
As recently announced, NASDAQ OMX PSX (PSX) is a new equity trading platform scheduled to launch in the second quarter of 2010, pending Securities and Exchange Commission (SEC) approval.
As announced in NASDAQ Head Trader Alert #2007-205, NASDAQ OMX has entered into an agreement to acquire the Boston Stock Exchange and related assets, which includes a second self regulatory organization ("SRO") license. Following SEC approval, NASDAQ OMX intends to use this SRO license to operate a second quote in U.S. equity securities called NASDAQ BX.
FINRA Requests Comment on Proposed Consolidated FINRA Rules Governing Financial Responsibility and Operational Requirements
WASHINGTON — The Financial Industry Regulatory Authority has released guidance to help securities firms implement a new rule requiring enhanced price disclosure to retail investors for trades in corporate and agency bonds. The new requirements go into effect May 14, 2018.
The guidance, in the form of answers to frequently asked questions (FAQ), covers such topics as when the new disclosure
The ways in which people communicate have changed with advancements in technology, and so have the tactics of “cold calling” boiler rooms. Today’s boiler rooms go beyond the telephone to contact potential investors, including pitching through messaging apps and social media. Regardless of the method of contact, the scammer’s goal and many of the red flags are the same.
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Executive Summary
In July, the NASD Board of Governors solicited member comment on eliminating a safe harbor for members trading ahead of customer limit orders. After reviewing comments received from members and others, the Board has taken action to eliminate the disclosure safe harbor and to replace it
Washington, D.C. — The FINRA Investor Education Foundation has awarded a grant of $153,725 to Pace University School of Law to develop and distribute information on how older investors can avoid and resolve small disputes with brokerage firms.Formerly known as the NASD Investor Education Foundation, the FINRA Investor Education Foundation was established in 2003 and is the largest foundation in
