By
Kyle Brasseur2023-10-04T18:25:00
Fidelity Brokerage Services agreed to pay a $900,000 penalty levied by the Financial Industry Regulatory Authority (FINRA) regarding alleged due diligence failures caused by errors in the firm’s automated screening system.
From May 2017 through April 2022, Fidelity did not have a system reasonably designed to review and approve customers’ online applications to trade options, FINRA said in its disciplinary action published Monday.
Fidelity relied on an automated system for reviewing options trading applications. After review, a principal at the firm would approve or disapprove customer accounts for options trading, according to FINRA.
2023-11-28T19:23:00Z By Kyle Brasseur
TD Private Client Wealth agreed to pay a $600,000 penalty levied by the Financial Industry Regulatory Authority for allegedly failing to review millions of employee emails as required by the self-regulatory organization’s rules.
2023-10-10T16:45:00Z By Jeff Dale
HSBC Securities (USA) agreed to pay $2 million as part of a settlement with the Financial Industry Regulatory Authority addressing alleged inaccurate disclosures related to conflicts of interest.
2023-10-04T20:35:00Z By Jeff Dale
Santander U.S. Capital Markets agreed to pay $100,000 to settle allegations by the Financial Industry Regulatory Authority regarding supervision failures related to misuse of material nonpublic information.
2025-10-29T20:04:00Z By Oscar Gonzalez
The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”
2025-10-28T21:11:00Z By Adrianne Appel
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
2025-10-23T20:36:00Z By Jaclyn Jaeger
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.
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