- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-12-06T19:16:00
The Financial Industry Regulatory Authority (FINRA) published disciplinary actions against four firms for failing to establish, maintain, and enforce a reasonably designed supervisory system over fully paid securities lending.
FINRA on Tuesday published settlements with SoFi Securities, Open to the Public Investing, M1 Finance, and SogoTrade for alleged violations of Rules 3110 and 2010. SoFi, Open to the Public Investing, and M1 Finance were each fined $500,000 and ordered to pay restitution of varying amounts, while SogoTrade was fined $100,000 plus restitution.
In the cases of SoFi, M1 Finance, and SogoTrade, the alleged violations were observed starting from January 2019 and into this year. The period noted at Open to the Public Investing was May 2020 through September 2022.
2023-11-30T22:06:00Z By Kyle Brasseur
Bank of America Securities agreed to pay $24 million in settling with the Financial Industry Regulatory Authority for allegedly failing to supervise the “spoofing” activities of two former traders in U.S. Treasury markets.
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.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
2025-06-19T19:28:00Z By Ruth Prickett
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
2025-06-16T18:04:00Z By Neil Hodge
Trying to put rules in place to oversee an industry that has grown largely outside of regulation is not without serious challenges. But the UK’s Financial Conduct Authority’s (FCA) latest consultation aims to attract industry views about how some key aspects of crypto trading should be regulated ahead of planned ...
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