Trading

Cross trading practices inconsistent with its compliance P&Ps, regulatory compliance manual and Forms ADV have yielded SEC charges against a New York-based investment adviser.   In ...

The “red flags” at Interactive Brokers were waving for over three years.  Internal audit findings, along with “multiple” internal warnings from its clearing and compliance ...

BKS had a compliance manual that included a policy for “Block Order Allocation.” This policy required that “All block order allocations will be fair and ...

Denha allocated a greater proportion of profitable trades, i.e., trades that increased in price from the time of purchase in the omnibus account to the ...

FINRA is proposing to revise the suitability rules to “more effectively address instances of excessive trading in customers’ accounts (BD Watch, July 19, 2018).” Not ...

The Securities and Exchange Commission is adopting amendments to regulatory requirements in Regulation ATS under the Securities Exchange Act of 1934 (‘‘Exchange Act’’) applicable to alternative ...

Mizuho Securities USA’s compliance training materials stressed the expectation of confidentiality concerning clients’ buyback order information. Slides during annual compliance training stated that “clients have ...

FINRA has a plan for cracking down on what it sees as a growing problem with churning: Change the rules of the game to make ...

The Commission’s complaint alleged, in substance, that from at least January 2012 through July 2016, Strong Investment Management (“Strong”) and its co-founder, owner, president, and ...

This proceeding concerns Merrill Lynch’s sustained efforts to hide its practice of routing certain customer orders to other broker-dealers (“External Liquidity Providers,” “Electronic Liquidity Partners,” ...