Fidelity Brokerage Services will pay a $900K penalty to settle FINRA charges it didn't have a system reasonably designed to approve options trading applications
The SEC charged 10 firms for widespread and longstanding failures to maintain and preserve electronic communications
SEC Enforcement Director reminds that there are "real benefits to self-reporting, remediating and cooperating"
FINRA provides an update on targeted exam sweep to review broker-dealers' offering of, and services provided to, SPACs and their affiliates
Using their personal devices, these employees communicated both internally and externally by personal text messages, or other text messaging platforms such as WhatsApp and GroupMe ...
Maxim failed to file SARs for numerous transactions that it should have had reason to suspect involved possible fraudulent activity or had no business or ...
The firm's revised P&Ps now require reps to request oral consent to electronic delivery from customers using a consent and disclosure script. If a customer ...
Broker-dealer's Reg BI P&Ps weren't tailored to business, offered no guidance for reps/supervisors and didn't detail enforcement mechanisms
Both the SEC's and FINRA's exam staff flagged examining for compliance with Reg BI as an ongoing focus priority
Hennig’s written policies and procedures failed to adequately address its Disclosure Obligation because, among other things, they did not provide sufficient guidance or procedures for ...