Luparello to serve as interim CEO
Firms failed to adequately monitor for suspicious trading activity
The Financial Industry Regulatory Authority announced that it has banned two brokers and suspended a third, for misconduct in the sale of complex Collateralized Mortgage Obligations to retail customers.The brokers neither admitted nor denied the charges, but consented to the entry of FINRA’s findings. Two brokers were permanently barred from the securities industry, and the […]
Illegal sales of unregistered penny stocks lead to fines, suspension
FINRA, NYSE Regulation to split responsibilities
U.S. regulators are warning international investors that advance-fee fraudsters are impersonating regulators as part of their scams.The Financial Industry Regulatory Authority issued an updated investor alert warning international investors about a new twist in advance-free fraud involving low-priced US securities. Con artists have been misusing FINRA’s name and impersonating FINRA employees in email communications in […]
CIBC World Markets, TradeStation., and E*Trade Securities fined for order audit trail violations
Comments due June 13
Allegations against “unnamed” brokers going unreported
Complex products can lose their value if a triggering event occurs