SR-FINRA-2025-004

Rule Filing Status: Filed for Immediate Effectiveness

Rule change to stay the effectiveness of specified expulsions of member firms, cancellations of membership, and denials of applications for continued membership of disqualified member firms to allow for SEC review. The proposed rule change would amend FINRA Rule 8320, the FINRA Rule 9000 Series, and Funding Portal Rule 900(b).

2022074999801 Network 1 Financial Securities, Inc. CRD 13577 AWC vr.pdf

Between October 2021 and July 2022, Network 1 failed to reasonably supervise a sales representative's activity relating to a private placement in violation of FINRA Rules 3110 and 2010. In April 2022, Network 1 distributed offering materials for the private placement that contained erroneous and/or misleading information in violation of FINRA Rules 2210 and 2010. For these violations, Network 1 is censured, fined $50,000, and agrees to remediate the issues identified in this AWC...

SR-FINRA-2025-006

Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend provisions of the FINRA Rule 9000 Series (Code of Procedure) and Funding Portal Rule 900 Series (Code of Procedure) that require or allow for a sanction or other regulatory measure to take effect immediately.

2024081111301 Michael Cheng Ning CRD 1229733 Complaint lp.pdf

The Department of Enforcement alleges: 1. In November and December 2024, Respondent Michael Cheng Ning, in his capacity as custodian of records for former member firm Arque Capital, Ltd., failed to respond to requests for documents and information that FINRA made pursuant to FINRA Rules 4570(b) and 8210 as part of FINRA’s investigation into whether certain securities recommendations by the firm’s registered representatives to customers of two former Arque Capital registered representatives were in the best interests of their customers.
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