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WASHINGTON - The Financial Industry Regulatory Authority (FINRA) announced today that it has expelled MICG Investment Management, LLC (MICG) of Newport News, VA, and barred Jeffrey A. Martinovich, the firm's CEO and majority owner, for securities fraud, misusing investors' funds and causing false account statements to be issued to investors in connection with their management of a proprietary hedge fund named MICG Venture Strategies, LLC (Venture Strategies).
Exemptive relief is granted based on: the representation that at the time of the contribution the individual was not an MFP (as defined); the firm already has a significant business relationship with the governmental entities of which the contribution recipients were considered to be issuer officials; the firm has instituted information barriers on certain municipal business communications; the individual involved will be prohibited from the solicitation of certain new municipal business for a period of time.
SUGGESTED ROUTING
Senior ManagementInstitutionalLegal & ComplianceOptionsTrading
Executive Summary
Given the growing market for over-the-counter (OTC) derivatives, such as OTC options on individual equity securities and stock indexes, and the Securities and Exchange Commission's (SEC) recent approval of increases in option position and exercise limits, the NASD reminds members of
SEC Approves Consolidated Financial Responsibility and Related Operational Rules
Increases Transparency into Budget; Includes No Fee Rate Increases for Member Firms
WASHINGTON — The Financial Industry Regulatory Authority today published for the first time its
FINRA’s 2018 Financial Guiding Principles
for the coming year. The additional transparency supplements the audited annual financial report FINRA has long published, responds to feedback
WASHINGTON —The Financial Industry Regulatory Authority (FINRA) announced today it has fined Citigroup Global Markets Inc. (CGMI) $5.5 million and required the firm to pay at least $6 million in compensation to retail customers for displaying inaccurate research ratings for numerous equity securities during a nearly five-year period, and for related supervisory violations.
An equity research
Washington, DC - The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Scottrade, Inc. $200,000 for violating pattern day trading margin rules and for extending credit to customers in violation of federal securities laws and banking regulations.
FINRA® has taken disciplinary actions against the following firms and individuals for violations of NASD rules; federal securities laws, rules and regulations; and the rules of theMunicipal Securities Rulemaking Board (MSRB).
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Senior Management
Internal Audit
Legal & Compliance
Operations
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REQUEST FOR COMMENTS
EXECUTIVE SUMMARY
The NASD invites comments on a proposed rule that would restrict the payment of "
SUGGESTED ROUTING*
Senior ManagementLegal & ComplianceOperationsTradingTraining
*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
The SEC has approved new Section 43 to Article III of the NASD Rules of Fair Practice. The new section prohibits all persons associated with a member in any registered capacity from accepting employment or