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Entries in FINRA (24)


FINRA fines Deutsche Bank $12.5 million for faulty hoots and squawks

The Financial Industry Regulatory Authority (FINRA) Monday fined Deutsche Bank Securities Inc. $12.5 million for sending out internal alerts that might contain confidential information traders and their customers could use.

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FINRA fines Deutsche Bank $6 million for missing and late trade info

Deutsche Bank Securities Inc. paid a $6 million fine for failing to provide complete and accurate trade data to FINRA and the SEC. It was the biggest fine the Wall Street regulator has imposed for so-called blue sheet violations.

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FINRA penalizes Oppenheimer & Co. $3 million for selling risky ETFs to seniors

The Financial Industry Regulatory Authority (FINRA) Wednesday fined Oppenheimer & Co. Inc. $2.25 million and ordered the firm to pay restitution of more than $716,000 to some retail customers for selling them unsuitable high-risk investments.

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Former compliance officer sanctioned, Raymond James & Associates fined $17 million for AML failures

The Financial Industry Regulatory Authority (FINRA) fined a former AML compliance officer and suspended her for failing to conduct required due diligence and periodic risk reviews of foreign financial institutions.

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Julie DiMauro on cheating trainees: A future where training and compliance are merged

Reports of trainee bankers cheating on internal exams at JP Morgan's New York office and at Goldman Sachs in London and New York point to the need to prepare for a future in which training and compliance are merged.

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Julie DiMauro on sales: Compliance tips to avoid elder abuse

According to research collected by the North American Securities Administrators Association (NASAA), although people age 60 and older make up 15 percent of the U.S. population, they also account for about 30 percent of fraud victims.

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Oppenheimer fined $20 million for AML failures in penny stock trades

The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) assessed a $20 million civil penalty against Oppenheimer & Co., Inc. for "willfully violating" the Bank Secrecy Act.

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Federal judge expands meaning of 'whistleblower' beyond other ruling

A federal district court ruled in May that whistleblowers don't have to report to the SEC to receive protection against retaliation by their employers.

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Treasury may hit compliance officer with $5 million fine

The U.S. Treasury Department has notified a former compliance chief at MoneyGram International Inc. that he may face a fine of up to $5 million over the money-transfer company's previously admitted failures to monitor transactions properly for illicit activity.

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FINRA fines Banorte-Ixe Securities for inadequate AML program

The Financial Industry Regulatory Authority (FINRA) said Wednesday it has fined Banorte-Ixe Securities International, Ltd. $475,00 for not having adequate anti-money laundering procedures in place.

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FINRA releases 2014 regulatory and exam priorities 

On Thursday, the Financial Industry Regulatory Authority (FINRA) released its 2014 Regulatory and Examination Priorities letter to help firms review and enhance their compliance programs. FINRA emphasized that it will be examining for strong controls and compliance efforts in the areas covered in the letter, as they were deemed to pose significant risk to investors and the integrity of the market as a whole.

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Barclays fined for poor books and records retention

Last Thursday, the Financial Industry Regulatory Authority (FINRA) fined Barclays Capital Inc. $3.75 million for failing to preserve electronic records and certain emails and instant messages for at least a decade.

According to FINRA, Barclays did not preserve order and trade ticket data, trade confirmations, blotters, account records and similar records from at least 2002 to 2012. It also failed to properly preserve about 3.3 million Bloomberg instant messages from October 2008 to May 2010 and certain attachments to Bloomberg emails from May 2007 to May 2010.

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