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FCPA Blog Daily News

Entries in FINRA (27)


Julie DiMauro: What can we learn from employee reimbursement program disasters?

The streak of expense-claim abuses that reportedly caused some 200 employees to lose their jobs at Fidelity Investments may be familiar to the many firms that offer partial reimbursement for expenses such as computers and accessories or fitness memberships and equipment.

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U.S. regulators fine CCO and brokerage firms for AML offenses

The SEC Wednesday charged a chief compliance officer and two broker dealers with failing to file Suspicious Activity Reports after red flags came up for the sale of 12.5 billion shares of penny stocks.

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Two Wall Street compliance officers charged for ignoring red flags

The SEC alleged Wednesday that two former anti-money laundering compliance officers for a New York broker dealer aided and abetted their firm's AML violations.

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FINRA warns public about fake . . . FINRA

The Financial Industry Regulatory Authority (FINRA) warned about con artists posing as FINRA to make phony investment pitches.

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Richard Bistrong: Who’s gaming your compliance program? 

Instead of completing compliance training modules on their own, three Credit Suisse bankers had their administrative assistants do the work for them.

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FINRA penalizes Citigroup $11 million for telling customers to buy when it meant sell

For nearly five years Citigroup Inc. sent retail customers the wrong research ratings on more than 1,800 stocks, causing many to buy and hold shares they never would have owned.

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FINRA fines Raymond James $2 million for flawed email monitoring system

The Financial Industry Regulatory Authority fined Raymond James $2 million for using a system that didn't properly monitor or review employee emails.

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FINRA bars New York broker who cheated blind elderly widow

The Financial Industry Regulatory Authority barred a New York-based broker for churning the account of a blind elderly widow and recommending unsuitable investments.

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FINRA fines J.P. Morgan for thousands of HR due diligence failures

The Financial Industry Regulatory Authority fined J.P. Morgan Securities, LLC $1.25 million for failing to conduct proper background checks on 8,600 new employees.

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FINRA bars former Goldman Sachs banker linked to 1MBD

Wall Street's independent regulator banned a former Goldman Sachs banker linked to a Malaysia sovereign wealth fund that was allegedly looted, after he said he wouldn't cooperate with the regulator's investigation.

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FINRA penalizes Morgan Stanley $13 million for failing to supervise salespeople

The Financial Industry Regulatory Authority (FINRA) said Wednesday it penalized Morgan Stanley Smith Barney LLC about $13 million for failing to supervise its representatives’ short-term trades of unit investment trusts.

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FINRA warns compliance officers (and others): Beware of fake online job interviews

Wall Street's independent regulator warned that people claiming to be involved in the hiring process for legitimate organizations are using Skype and similar apps to phish for personal information and money.

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