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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-04-29T19:02:00
Online brokerage services provider TD Ameritrade agreed to pay a $600,000 fine for violations of Financial Industry Regulatory Authority (FINRA) rules over its automated approval system that allegedly allowed inexperienced traders to engage in options trading.
TD Ameritrade used an automated, electronic system to issue approvals and denials for customer options trading requests that was not reasonably designed to catch inconsistencies in customers’ descriptions of their trading experience, as well as other factors that might lead to their application being denied, according to a FINRA order published Friday.
From November 2019 to October 2022, TD Ameritrade approved 1,288 customer applications for advanced options trading, despite many of those customers not having the requisite three years of trading experience or levels of income and net worth required by the firm’s policies and procedures, FINRA said.
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2024-04-30T20:43:00Z By Aaron Nicodemus
RBC Capital Markets agreed to pay nearly $769,000 to settle allegations levied by the Financial Industry Regulatory Authority, in part, over sending inaccurate information in trade confirmations to customers over nearly a decade.
2024-04-15T16:26:00Z By Aaron Nicodemus
A Barclays unit agreed to pay $700,000 to settle allegations levied by the Financial Industry Regulatory Authority that its research analysts violated conflict-of-interest rules and the firm failed to sufficiently supervise their trades.
2024-03-27T21:55:00Z By Jeff Dale
Two subsidiaries of Stifel Financial Corp. agreed to pay a collective total of about $2.3 million over alleged violations of Financial Industry Regulatory Authority rules regarding nontraditional exchange-traded products.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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