By Jeff Dale2024-11-06T21:36:00
The Financial Industry Regulatory Authority (FINRA) fined broker-dealer Morgan Stanley $1 million over alleged documentation failures related to risk management controls and supervisory procedures involving violations of the Market Access Rule.
Morgan Stanley had unclear order controls in regard to the grouping of customer transactions into low- or high-touch thresholds, with the potential for the entry of erroneous orders to enter the market, FINRA alleged in a disciplinary action Friday.
Low-touch orders are processed through an automated system, while high-touch orders are a more manual process, the self-regulatory agency noted. The firm allegedly “permitted orders that had been manually reviewed and released and subsequently amended at a later time … without additional manual review.”
2025-02-06T14:39:00Z By Adrianne Appel
A clearing firm agreed to pay $3.2 million and certify that it put in place compliance measures under an agreement with the Financial Industry Regulatory Authority.
2025-01-03T14:44:00Z By Jeff Dale
The Financial Industry Regulatory Authority issued fines against four large banks to end 2024, all for different alleged misconduct, but all related to the firms’ failures to implement a supervisory system reasonably designed to achieve compliance with FINRA rules.
2024-02-16T19:21:00Z By Aaron Nicodemus
Morgan Stanley will pay a $1.6 million fine levied by the Financial Industry Regulatory Authority for failing to close out certain municipal securities transactions over a five-year period.
2025-09-17T17:20:00Z By Adrianne Appel
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishermen, the Department of Justice said.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
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