The Trusted Contact Persons section of the 2023 Report on FINRA’s Examination and Risk Monitoring Program (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) regulatory obligations and related considerations, (2) findings and effective practices, and (3) additional resources.
Why are we still having to ask for basic accountability in the year 2022? The reason is because crime pays and the self reportive market is riddled with fraud as the past several months of Sec fines proves there is a glaring problem. https://www.sec.gov/news/pressreleases The DOJ mentioned using the RICO act for a reason and it is time to implement a computer tracking system to get with the times
Number
Date
Title
2022-85
May 20, 2022
SEC Charges Wells Fargo Advisors with Anti-Money Laundering Related Violations
SEC Order
2022-83
May 16, 2022
SEC Obtains Emergency Relief to Halt Pre-IPO Stock Fraud Scheme by Unregistered Broker-Dealer
SEC Complaint
2022-1
January 5, 2022
SEC Charges Additional Defendant in Phony
SUGGESTED ROUTING*
Senior Management
Corporate Finance
Legal & Compliance
Syndicate
Training
*These are suggested departments only. Others may be appropriate for your firm.
REQUEST FOR COMMENTS
EXECUTIVE SUMMARY
The NASD requests membership comment on proposed
FINRA Expands the Order Audit Trail System to All NMS Stocks
I believe it is critical that FINRA mandate daily reporting of short positions by all members, to include synthetic shares. It is clear that FINRA does not receive accurate updates from its members on the above and that it is having a profound negative effect upon the overall market. Retail perceives FINRA in a negative manner, an organization that does not enforce any of its rules and which
SR-FINRA-2008-049 - Financial Industry Regulatory Authority, Inc. (“FINRA”) (f/k/a National Association of Securities Dealers, Inc. (“NASD”)) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a Uniform Practice Code (UPC) Advisory that will provide notice that FINRA will halt trading in OTC Equity Securities under FINRA Rule 6460(a)(3) (formerly NASD Rule 6660(a)(3)) if there is a marketwide halt in trading in NMS stocks.
The Audit Committee of the FINRA Board of Governors engaged Lowenstein Sandler LLP to conduct an independent review in connection with a Fulton County, Georgia Superior Court decision vacating an arbitration award in favor of respondent Wells Fargo Clearing Services, LLC. The Court of Appeals of Georgia reversed the Fulton County, Georgia Superior Court decision finding no evidence of an agreement between Wells Fargo and FINRA. Furthermore, the Court of Appeals of Georgia found nothing that indicated Wells Fargo manipulated the arbitrator pool in the subject arbitration.
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