Failure to supervise

NFA's exam found deficiencies in several facets of Amp's operations including its anti-money laundering (AML) procedures, its Risk Management Policy and the way the firm ...

An SEC examination of 10 broker-dealer branch offices that distribute structured securities products shows B-Ds have work to do when it comes to the implementation ...

A new sweep directed at broker-dealers by FINRA continues the SRO’s assessment of how firms identify, mitigate and manage conflicts. The sweep focuses especially on ...

The SEC has now brought its first case against an underwriter for pricing-related fraud in the municipal securities primary market.  On August 13, the Commission ...

During the pendency of their fraud, Glover and Williams received undisclosed commissions from Colonial Tidewater totaling approximately $188,382. Glover’s receipt of commissions from Colonial Tidewater ...

When compliance doesn’t diligently pursue significant “red flags,” someone is likely going to pay. For Charles Smulevitz and Kevin McKenna, who served successively as chief ...

Five years after Regulatory Notice 10-19, FINRA sees continuing problems with the use – and, in its view, abuse – of consolidated reports. Examiners are ...

Avoid falling short when it comes to the new supervision rules. Heed advice from FINRA Midwest Regional Director Ed Wegener. First, tailor your P&Ps to ...

For the discerning compliance professional, SEC enforcement actions are chock full of lessons learned and tripwires to be avoided. In June 2014, summer school was ...

Responding to deficiencies identified by your regulator with concrete remedies is critical. Actually implementing the pledged solutions on a timely basis is even more important. ...