Exemptive relief is denied based on: the Firm’s repeated failure to detect Officer A’s contributions in excess of $250; the Firm had actual knowledge of all three of Officer A’s contributions and that the Firm violated the municipal securities ban on two separate ocassions; and the firm failed to discover its own rule violations prior to NASD’s intervention.
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SEC Approves Consolidated FINRA Rules Governing Financial Responsibility
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Executive Summary
The Securities and Exchange Commission (SEC) has approved an exception to SEC Rule 10b-6 (Rule 10b-6) and a new companion rule, Rule 10b-6A, under the Securities Exchange Act of 1934 to permit "passive market making" in certain distributions of
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Effective Date: June 16, 2001 For PORTAL Equity Securities
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Salesperson Compensation Practices
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The Suggested Routing function is meant to aid the reader of this document. Each
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In the following document, NASD Regulation, Inc. (NASD RegulationSM) requests public comment concerning the potential benefits to investors of allowing the
This conference comes at an important time, in the aftermath of a very difficult period. If we look back to the summer and fall of 2008, every time we thought conditions in the financial sector couldn't get worse, they did, and we ultimately came to the brink of a global market meltdown.
Thank you, Steve [Freedman] for that introduction. And thank you to Fordham's College of Business Administration for organizing this conference and inviting me to speak. I'd like to acknowledge a good friend, John Tognino, who I know is a highly valued member of the Fordham community.
Today I'm giving my first speech as FINRA's Chairman and CEO—and I can't think of a better audience for the occasion, although all of us wish the economic circumstances of the occasion were quite different. The fact that you are here speaks volumes about your commitment to build the most effective control environment possible at your firms.
