FINRA
Get the latest news and insights on the Financial Industry Regulatory Authority's rules, enforcement actions and related activities.
FINRA Board Member Resigns After Suspension
By Melanie WaddellFINRA Board member Joel Blumenschein has resigned as he was recently fined $30,000 and suspended by FINRA for allegedly failing to supervise one of his companys brokers, Gary Gossett.
April 13, 2012
Bachus to Introduce SRO Redraft Early Next Week: Industry OfficialsHouse Financial Services Chairman Spencer Bachus (left), R-Ala., plans to introduce a redraft of his bill calling for a self-regulatory organization for advisors early next week, according to three top industry officials in Washington.
April 12, 2012
FINRA, SEC Fine Goldman $22M for ‘Trading Huddles’The firm settled over failure to supervise research analysts who met with traders and clients, and to monitor possible subsequent firm and client trading, said FINRA's head of enforcement, Brad Bennett.
April 12, 2012
Bachus to Introduce SRO Redraft Early Next Week: Industry OfficialsRep. Bachus' revised bill comes despite economic analysis saying SRO would cost twice as much as funding the SEC.
April 12, 2012
FINRA Proposes New Way to Expunge Names of Reps in ArbitrationsRegistered reps who are involved, but not named, in customer-initiated arbitration cases may have a new means of clearing those allegations, if proposed new rules go into effect. Comments due May 21.
April 05, 2012
FINRA Panel: David Lerner Associates Sold Marked-Up Munis, CMOsA FINRA hearing panel ruled on Wednesday that Long Island-based David Lerner Associates charged excessive markups on municipal bond and CMO transactions over a two-year period.
March 27, 2012
Advisors Weigh In On Client Advisory BoardsA financial advisors group on LinkedIn.com recently had a lively discussion of client advisory boards, started by an advisor who asked for the opinions of colleagues who had established a board
March 20, 2012
FINRA Fines Citigroup Arm Over Corporate Bond TransactionsFINRA on Monday fined Citi International Financial Services $600,000 and ordered more than $648,000 in restitution and interest to more than 3,600 customers for charging excessive markups and markdowns on corporate and agency bond transactions.