Tag: FINRA

FINRA

FINRA Seeks to Strengthen Penalties on Repeat Offenders

The Financial Industry Regulatory Authority’s (FINRA) board of governors has approved the next step in what it terms its ongoing initiative to strengthen controls on brokers with a history of significant past misconduct.
The recommended changes also seek to ensure greater accountability for firms that choose to employ high-risk brokers.
FINRA says it plans to issue a Regulatory Notice seeking comment on the key proposals – which would strengthen protections for investors and range from additional disclosure on its BrokerCheck platform to heightened supervision of brokers appealing disciplinary matters.

FINRA Seeks Quicker Process on Disruptive Quoting

The US Financial Industry Review Authority (FINRA) has filed a notice with the Securities and Exchange Commission that will enable it to clamp down on what it considers “disruptive quoting and trading activity” much quicker than is currently possible.
In the filing FINRA notes that taking action against an alleged miscreant can take “several years” before it is concluded, but it points out that there are, “…certain clear cases of disruptive and manipulative behaviour or cases where the potential harm to investors is so large, that FINRA should have the authority to initiate an expedited proceeding to stop the behaviour from continuing”.

FINRA Hits Deutsche Over Squawk Boxes

The US Financial Industry Regulatory Authority (FINRA) has fined Deutsche Bank  $12.5 million for “significant supervisory failures related to research and trading-related information it disseminated to its employees…over internal speakers commonly known as squawk boxes”. FINRA says that despite “multiple red flags” regarding the potential dissemination of confidential information, Deutsche failed to establish adequate supervision […]