- Under qualified for oversight? Fines continue to rain down on firms for wrongfully using unregistered executives in key compliance supervisory positions.
- Research disclosure? FINRA has been watching closely to see that firms disclose potential conflicts of interest that could skew information in their research reports.
- It ain’t over till it’s over? Failing to pay fines and costs related to a FINRA action, or failing to adhere to the terms of a FINRA-sanctioned settlement agreement or arbitration ruling, continues to get firms and individuals in hot water.
- Moonlighting? FINRA has consistently punished members for participating in private securities transactions, for compensation, without prior written notice to, or prior written approval from, member firms.
- Supervisory shortcomings? While the nature of firms’ infractions differs widely, a common thread is the failure of those firms to have adequate supervisory systems in place to prevent infractions.
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