Hugh Kennedy
Broker-dealer received underwriting compensation that was "unreasonably and inaccurately described in the offering documents an to FINRA"
A failure to preserve 14,000 records led to a $30,000 FINRA fine
SEC settlement highlighted compliance review failures, the CCO's communications with a rep, and the ultimate resolution
The release covers an assessment of risks, details on the scoping of municipal advisor exams, and the requesting of exam documents
Alerts addressed municipal advisors, investment companies, broker-dealers, marketing rule compliance, shortening the settlement cycle and security-based swap dealers
The Commission adopted amendments requiring the electronic filing, submission, or posting of certain forms, filings, and other submissions
A change impacts the timing of follow up with firms on exam findings that were not highly material
FINRA charged B-D for utilizing 400 influencers that posted social media communications that "were not fair and balanced"
FINRA enforcement actions, exam sweep letters, SRO updates on sweeps and prior regulatory notices all serve as resources concerning influencers
The SEC cautions that SARs must contain "a clear, complete, and concise description of the activity, including what was unusual or irregular that caused suspicion"