Broker-Dealers

First ever Reg BI-related expulsion calls out disclosure obligation requirements

Nearly a half-dozen FINRA enforcement actions tied to Form CRS signal SRO's emphasis on the disclosure form

'Pervasive and longstanding use of off-channel communications' costs two broker-dealers over $70M as recordkeeping initiative continues

Latest enforcement actions are a testament to the value of self-reporting and remediation measures taken

In light of recent exams and disciplinary actions, FINRA has identified areas in which broker-dealers' investigations into private placements could be strengthened

SCUSA contacted the Division of Enforcement upon uncovering off-channel communications potentially related to the business of its broker-dealer

Come June 1, FINRA's BrokerCheck will reveal whether a broker-dealer is designated a "restricted firm" under rules 4111 and 9561

The SEC extended the comment period to June 13, 2023

Equity-market based schemes, crypto-based fraud, rep impersonation all on the rise

FINRA enforcement action demonstrates need for independent AML testing and proper identification of who is conducting the testing