FINRA Financial News

24.01 / 06:19

Provident Target security reports Features FINRA 70% of Crypto Asset-Related Communications Violate Rules: FINRA

The U.S. Financial Industry Regulatory Authority (FINRA) has reported that approximately 70% of crypto asset-related communications reviewed in a recent targeted exam have failed to comply with its rules.

10.01 / 01:35

markets Digital ETF security Trade Bitcoin reports FINRA 2024 Finra watching crypto assets, brokers in 2024

The Financial Industry Regulatory Authority Inc. on Tuesday issued its annual roundup of concerns related to the retail wealth management industry, and in an update, the securities industry self-regulator said it was adding developments in “crypto assets” to its laundry list of major concerns for the brokerage industry.

21.12 / 23:36

Citi FIVE SEC social information 2020 reports FINRA Broker Finra bars ex-Wells Fargo broker previously charged with fraud

A former Wells Fargo Advisor broker in Salt Lake City was barred from the securities industry yesterday for not turning over information and documents that the Financial Industry Regulatory Authority Inc. wanted in its investigation of the broker, Louis Goff.

18.12 / 20:23

Career Action information reports Department recommendations FINRA Broker Finra smacks Philly broker with Wells notice

A veteran Philadelphia-area broker, Austin Dutton, who for years has been under the scrutiny of securities regulators, is now facing one of the most dire developments in the career of a financial advisor: a Wells Notice.

08.12 / 17:21

FINRA Finra tried to ban firm for 60,000% fee hike. It hasn’t been easy

Wall Street’s self-regulator tried to ban Alpine Securities Corp. from the industry after finding that it jacked up fees on customers by 60,000% and violated a cease-and-desist order 35,000 times.

06.12 / 21:53

Cooper Platform Mobile information FINRA Online brokers misstep in securities lending: Finra

Fast-growing technology platforms that specialize in whiz-bang online trading at times fall short of securities industry rules. The most notable recent example was Robinhood, the mobile brokerage app and brokerage thatagreed in 2021 to pay a total of $70 million in fines and restitution to settle claims it harmed customers as a result of false or misleading information, system outages and approval of trade options that were not appropriate.

20.11 / 22:13

SEC Align performer FINRA Finra performance advertising proposal helps it keep pace with SEC marketing rule

A Finra proposal on performance advertising aims to align its oversight of broker marketing with the SEC’s marketing rule for investment advisors — a move that would help dually registered advisors adhere to both regulations.

20.11 / 16:53

SEC Strategy Align performer recommendations prevention FINRA Finra in surprise proposal to allow predicted returns in marketing

A 230 page proposal, which Finra has submitted to the Securities and Exchange Commission for review, would allow the use of predicted returns in marketing and would apply to brokers dealing with institutions and investors possessing assets over $5 million.

15.11 / 21:43

FINRA Finra fines Haywood USA $175,000

The Financial Industry Regulatory Authority Inc. has fined Haywood Securities USA as part of a settlement agreement.

07.11 / 00:03

Provident SEC Nov Actor Amicus performer reports FINRA State regulators, PIABA back Finra against claim it’s unconstitutional

Two groups sometimes at odds with Finra over how best to protect investors are backing the regulator against a lawsuit that questions its constitutionality.

04.11 / 00:17

Target Action awards Nov show Latin FINRA Finra arbitrators exonerate Raymond James in scam targeting Ecuadorian investors

Finra arbitrators rarely reveal the reasoning behind their decisions. But this week, a panel went into unusual detail to explain to Latin American victims of a Ponzi scheme why they won’t be able to collect damages against a major brokerage.

10.10 / 22:29

SEC Action Patrick President Actor show prevention FINRA Broker Judge lets Finra proceed with enforcement action against broker

A federal judge last week denied a broker’s effort to stop Finra from disciplining him.

10.10 / 18:41

COST FIVE SEC Manufacturing track recommendations FINRA Finra tags advisor for sales of GPB alternatives

The Financial Industry Regulatory Authority Inc. has penalized plenty of broker-dealers over sales of private placements manufactured by GPB Private Holdings, typically for selling the high-risk securities in 2018, when GPB had failed to file required audited financial statements for two of its biggest limited partnerships with the Securities and Exchange Commission.

06.10 / 21:25

COST ETF performer reports testing FINRA Financial Investors who overestimate their financial acumen pay higher fees, Finra says

There’s a difference in the investing world between thinking you know something and actually knowing it, with the former linked to paying higher investment fees, according to a study published Friday by the Finra Foundation.

27.09 / 18:07

Provident SEC Google Coronavirus pandemic President 2020 FINRA Finra asks SEC to extend remote inspections program

The Financial Industry Regulatory Authority plans to extend its remote inspections program, according to a filing with the Securities and Exchange Commission.

15.09 / 03:17

SEC Google performer FINRA State regulators continue to oppose Finra remote supervision pilot program

State securities regulators continue to resist Finra’s efforts to allow brokerages to conduct online supervision of branch offices.

08.09 / 12:19

Citi Williams SEC Merit Align Immunic Actor FINRA Barr wades in to join battle to cripple Finra

The Financial Industry Regulatory Authority Inc. is confronting a potential existential challenge in a federal appeals court in Washington, D.C.

07.09 / 20:47

COST UPS Extreme Strategy awards FINRA Finra arbitrators order expelled brokerage to pay $3.2M for excessive trading

James Fayssoux Sr. is still working at 75 rather than enjoying retirement because he lost a substantial amount of money when a brokerage firm churned his portfolio.

01.09 / 21:23

COST Provident Action show stage FINRA Broker Finra fines, censures New Jersey broker-dealer for violating Reg BI

The Financial Industry Regulatory Authority Inc. has censured and fined a New Jersey-based broker-dealer and its chief compliance officer for allegedly violating the compliance and care obligations of Regulation Best Interest.

31.08 / 15:53

Blockchain Digital SEC Software Align lawmakers FINRA Prometheum Prometheum's License Approval: Republican Lawmakers Challenge SEC and FINRA Decisions

A digital asset company called Prometheum Ember Capital LLC has recently gained attention for being named the first Special Purpose Broker-Dealer (SPBD) for digital assets. Republican members of the House Financial Services Committee have expressed reservations about this decision, leading them to ask the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) for explanation.

25.08 / 11:21

COST SEC Action COP stage FINRA Finra ‘looks forward’ to defending enforcement authority in court

A Washington, D.C., federal court this week prevented Finra from expelling a brokerage it found to have harmed customers, but the regulator is confident it can defend its enforcement authority in that case and a separate one that was filed earlier this month.

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