- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-10-03T16:45:00
The Financial Industry Regulatory Authority (FINRA) increased penalties for member violations of securities rules in new guidance.
Revisions to FINRA’s sanctions guidelines, effective Sept. 29, split the current guidelines for sanctions between individuals and firms and separate fine ranges for the latter into one range for small firms and another for mid-sized to large firms.
The guidelines establish new penalties for anti-money laundering (AML) violations, including removing the upper limit on certain fines for violations like failing to reasonably monitor and report suspicious transactions. The guidelines also provide fine ranges for individuals and lay out when a firm or individual should be suspended or expelled for misconduct.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership limited time offer
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Annual Membership $499
Full price one year membership.
The Financial Industry Regulatory Authority’s annual report on examinations and risk monitoring indicated a new emphasis for the regulator on combating financial crime, particularly cybercrime.
UBS Securities agreed to pay $3.75 million to settle allegations brought by the Financial Industry Regulatory Authority that its failure to adequately supervise compliance staff led to millions of violations of options trading reporting requirements.
The Financial Industry Regulatory Authority announced an examination sweep of retail communications by broker-dealers and their affiliates related to cryptocurrency asset products and services.
Illinois-based manufacturer John Deere will pay approximately $10 million in penalties and disgorgement to the Securities and Exchange Commission for violating the Foreign Corrupt Practices Act with bribes paid by a Thai subsidiary.
Nine investment advisers will pay a total of $1.24 million to settle allegations that they violated the Securities and Exchange Commission’s marketing rule by disseminating advertisements with untrue or misleading information.
A privately held family company and its CEO, who announced a $10 billion bid to buy U.S. Steel without having the cash on hand, will pay $600,000 in penalties to the Securities and Exchange Commission for making materially false statements.
