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.
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Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
2025-10-06T16:46:00Z By Aly McDevitt
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.
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