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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-02-16T19:21:00
Morgan Stanley will pay a $1.6 million fine levied by the Financial Industry Regulatory Authority (FINRA) for failing to close out certain municipal securities transactions over a five-year period.
In its letter of acceptance with Morgan Stanley Smith Barney, the wealth and asset management arm of Morgan Stanley, FINRA said that from December 2016 through August 2021, the firm did not cancel or close out 239 failed interdealer municipal securities transactions totaling approximately $9 million within 20 calendar days after settlement date.
The firm also failed to take prompt steps to obtain physical possession or control of 247 short positions in municipal securities totaling approximately $9.4 million resulting from failed interdealer municipal securities transactions, said FINRA in the letter, which it published Thursday.
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News and analysis for the well-informed compliance or audit exec.
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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.
2024-03-19T18:48:00Z By Jeff Dale
The Financial Industry Regulatory Authority fined Chicago-based financial technology company M1 Finance $850,000 as part of a settlement addressing alleged improper use of a social media influencer program.
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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