FINRA’s Financial Intelligence Unit (FIU) and Vulnerable Adults and Seniors Team (VAST) are issuing this Threat Intelligence Product (TIP), which provides an overview of FINRA’s observations regarding the vulnerability of senior investors to investment scams, the devastating consequences for the victims and the importance of education about financial scams to prevent initial victimization and re-victimization.
Public GovernorRetiredGovernor Since 2022Committees: Compensation & Human Capital Committee (Chair), Executive Committee, Finance, Operations & Technology Committee, Regulatory Policy CommitteeProfessional ExperienceMAK Management Consulting (2016 – 2022)Morgan StanleyCo-CIO and Managing Director, Global Technology (2013 – 2016)Managing Director and CIO – Wealth and Investment
Request more transparency. Retail investors should have visibility on all exchanges and they should be immediate. Current technology makes this possible. T+2 system is a relic of an antiquated system. The current system architecture puts all the advantage to large firms that have access to information that is either restricted or delayed to the retail investor. This obviously creates an un-level
Comments: Back in the 1990s when I started it was quite common for people who wanted to trade leveraged diversified products to establish a mutual fund account at Rydex (now part of Guggenheim). There were other products which were similar at the time though I think most have closed. The most popular trading were the Fidelity Select funds which had a 3% load specifically to allow for more rapid
The 2023 Report on FINRA’s Examination and Risk Monitoring Program (the Report) provides member firms with insight into findings from the recent oversight activities of FINRA’s Member Supervision, Market Regulation and Enforcement programs (collectively, regulatory operations programs).
Industry Governor (Small Firm Representative)Chief Compliance Officer, XML Securities, LLCGovernor Since 2024Committee: Regulatory Oversight CommitteeProfessional ExperienceXML Securities, LLCManaging equity member (2022 – Present)Chief Compliance Officer, XML Securities, LLC (2013 – Present)Chief Administrative Officer, XML Securities, LLC (2008 – 2012)XML Financial, LLCManaging equity
As announced by the Board of the Federal Reserve System in the Federal Register on October 28, 2021, FINRA will collect detailed data on depository institutions' daily transactions of marketable U.S. Treasury securities and of the debt and MBS issued by U.S. federal government agencies including government-sponsored enterprises (agencies) via its Trade Reporting and Compliance Engine (TRACE
SEC Approves Amendments to Rules on Reporting Transactions to the OTC Reporting Facility
Summary
In August 2019, FINRA launched a retrospective review that, among other things, sought stakeholders’ input on the effectiveness of Rule 3240 (Borrowing from or Lending to Customers).1 Based on feedback received during the review, FINRA is proposing amendments to Rule 3240 to:
emphasize that the rule generally prohibits registered persons from entering into borrowing or
Watch previously recorded webinars on demand and learn about the transition of registration compliance and continuing education workflows from FINRA’s legacy registration systems to FINRA’s centralized compliance platform, FINRA Gateway.CE Transformation: Annual CE System ToolsDuring this webinar, FINRA staff reviews tools available in FINRA Gateway to assist firms in tracking annual regulatory
