The Financial Industry Regulatory Authority published its Annual Risk Monitoring and Examination Priorities Letter to highlight issues of importance to FINRA’s regulatory programs. Highlighted items include online distribution platforms, regtech…Read More
This week, State Street is going to be scrutinized for data security incidents that affected a pension fund client, LACERA (Los Angeles County Employees Retirement Association, $56bn AuM). Detailed summaries…Read More
If brokers move their business to fintech firms, FINRA may not have oversight. Is this a good thing?
FINRA is considering a rule that would reduce the supervisory burden of US brokerage members’ outside activities. The rationale is that if a broker isn’t engaged in brokerage business then…Read More
WASHINGTON – FINRA announced today that it has fined Interactive Brokers LLC (Interactive) $5.5 million for Regulation SHO violations and supervisory failures spanning a period of at least three years.…Read More
From FINRA’s 2015 Regulatory and Exam Priorities Letter: Securities-Backed Lines of Credit (SBLOCs) SBLOCs are revolving, non-purpose loans that allow investors to borrow money from lending institutions using fully paid-for…Read More
“The independent regulator of brokers found that UBS placed millions of short sale orders to the market without ‘locates’ and in some cases included securities ‘that were known to be…Read More