FINRA announced today that it has fined Morgan Stanley Smith Barney LLC $1.6 million for the firm’s repeated failures to timely close out failed inter-dealer municipal securities transactions and to take prompt steps to obtain physical possession or control of municipal security positions that are short more than 30 calendar days, and related supervisory failures.
Comment Period Expires September 13, 1999
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Executive Summary
Disciplinary Action Corrections
The following corrections pertain to the August 1997 Notices to Members Disciplinary Actions section.
Page 428—Charles William Duquette (Registered Representative, Beaverton, Oregon) was suspended from January 6, 1996 to July 6, 1997. Lewis H. Aytes (Registered Representative, Medford, Oregon) was suspended from February 15, 1996 to August 15, 1997. The August
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Executive Summary
The Securities Industry/Regulatory Council on Continuing Education (Council) has issued the annual Firm Element Advisory, a guide for firms to use when developing their continuing
Each year, FINRA publishes its Annual Risk Monitoring and Examination Priorities Letter to highlight issues of importance to FINRA's regulatory programs.
I am here today to tell you about the NASD’s recently proposed rules governing analyst recommendations. In light of what we have heard today and in the weeks following the Enron revelations, I think you will agree that these rules will help American investors.
WASHINGTON—FINRA has ordered three firms—Edward Jones, Osaic Wealth, Inc. and Cambridge Investment Research, Inc.—to pay more than $8.2 million in restitution to customers who were harmed by the firms’ failures to provide available mutual fund sales charge waivers and fee rebates on mutual fund purchases. FINRA did not impose any fines in connection with these matters in recognition of each firm’s extraordinary cooperation with FINRA’s investigations.
FINRA announced today that it has fined M1 Finance LLC $850,000 for social media posts made by influencers on the firm’s behalf that were not fair or balanced, or contained exaggerated, unwarranted, promissory, or misleading claims.
(a) Appeal to SEC; Effect
A Respondent aggrieved by final disciplinary action pursuant to the Rule 9200 Series or the Rule 9300 Series may apply for review by the SEC pursuant to Section 19(d)(2) of the Exchange Act. The filing with the SEC of an application for review by the SEC shall stay the effectiveness of any sanction, other than a bar or an expulsion, imposed in a decision
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Proposed Amendments to Rule 2720
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Executive Summary
NASD is issuing
