SEC, FINRA Enforcement: Ex-Oppenheimer Employees Fined in Penny Stock Case
Meanwhile, FINRA fined Global Strategic Investments LLC for suspicious Venezuelan bond activity.
Compliance Data Analytics: Do as Regulators Say AND as They Do
Financial services firms should follow the lead of the SEC and FINRA and use more sophisticated technology tools to improve their compliance programs.
Banks Line Up for Dot-Bank Domain Names to Help Prevent Cyberattacks
The domain extension offers enhanced security features, including strong encryption and verification requirements.
4 Ways to Strengthen BICE in DOL’s Fiduciary Rule
The Labor Department’s proposed rule is historic and can be improved by industry suggestions, as long that input doesn’t weaken the rule.
DOL ‘Flexible’ on Fiduciary Rule, Perez Says
“We are very flexible in how to get this [fiduciary rulemaking] done,” Labor Secretary Perez told a Senate panel. “We haven’t made any decisions yet.”
7 Ways Citi Squeezed Millions of Credit Card Holders, According to the CFPB
Citigroup must pay $70 million in fines, and $700 million in relief to customers, for the way it ran its credit card business.
SIFMA, U.S. Chamber Barrage DOL as Fiduciary Rule Comment Deadline Looms
SIFMA, for its part, filed not just one comment letter but eight, along with two studies highlighting the fiduciary rule's challenges.
FINRA Blasts DOL’s Fiduciary Redraft as ‘Fractured, Confusing’
In its 21-page comment letter, FINRA tells DOL to modify its plan so that BDs do not abandon small accounts.
SEC Awards $3M to Whistleblower Who Helped Crack ‘Complex Fraud’
The whistleblower’s “specific and detailed information” laid out a scheme that would have been very difficult to detect, the SEC said.
SEC Enforcement: Napkin-Eating Broker Settles; Ponzi Funds Used for Porn
Also, a hedge fund manager admits to providing bad data, which affected recording of 552 million shares.