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Institutional FX

FINRA Fines Justly Markets (Formerly DBOT) $100K for Missing Records of 95M Orders

  • Justly Markets operated as DBOT during the period of the alleged violation.
  • The ATS firm's former third-party vendor deleted the records.
Thursday, 29/12/2022 | 21:28 GMT by Solomon Oladipupo
Institutional FX

FINRA Fines Wells Fargo $200K for Overstating Trade Volume

  • The lapses in the company’s systems persisted from December 2016 until June 2018.
  • The firm has accepted the fine and settled the charges.
Friday, 23/12/2022 | 08:08 GMT by Arnab Shome
Institutional FX

FINRA Slams $165k Fine on Instinet for Data Inaccuracy and Poor Supervision

  • Instinet published 54 inaccurate monthly reports between 2015 and 2019.
  • The broker also under-reported about 5% of the total covered orders during the period.
Monday, 12/12/2022 | 20:09 GMT by Solomon Oladipupo
Retail FX

TRADE.com Owner Gets FINRA License, Expands to US Market

  • FINRA granted TRADE.com a broker-dealer license.
  • The broker is regulated in five different jurisdictions.
Wednesday, 07/12/2022 | 12:07 GMT by Damian Chmiel
Executives

FINRA Promotes Jonathan Sokobin to be Its New Executive VP

  • Sokobin will also take on the role of Head of Regulatory Economics and Market Analysis.
  • He brings more than fourteen years of experience to the role.
Friday, 02/12/2022 | 11:22 GMT by Tom Hazan
Institutional FX

FINRA Fines RBC Capital Markets $360k for Supervisory Failure

  • The failure occurred between June 2018 and February 2020.
  • FINRA recently fined RBC Capital Markets $90k over anticipatory hedging violations.
Tuesday, 01/11/2022 | 16:55 GMT by Solomon Oladipupo
Retail FX

FINRA Slaps $100k Penalty on Dealerweb for TRACE Violations

  • The penalty is for inaccurate TRACE transaction reports and a deficient supervisory system.
  • Dealerweb paid $37,500 to FINRA for various TRACE violations between 2013 and 2017.
Tuesday, 18/10/2022 | 16:38 GMT by Solomon Oladipupo
Institutional FX

FINRA Penalizes UBS Securities $2.5M for 73,000 ‘Naked’ Short Sales

  • The violations occurred between 2009 and 2018.
  • The US SEC recently fined UBS Securities $125 million alongside 14 other broker-dealers.
Wednesday, 05/10/2022 | 10:58 GMT by Solomon Oladipupo
Brokers

FINRA Imposes a Fine on Vision Financial

  • The financial services provider failed to implement a reasonable AML program.
  • Vision Financial has been a member of FINRA since 2008.
Monday, 19/09/2022 | 09:57 GMT by Bilal Jafar
Brokers

ViewTrade Fined $250,000 for AML and Reporting Lapses

  • The company failed to implement an AML program to detect and report suspicious transactions.
  • The platform offers trading services with stocks and options.
Wednesday, 24/08/2022 | 09:40 GMT by Arnab Shome
Brokers

Introducing Broker SageTrader Fined $775K for Supervisory Failures

  • The platform did not have any supervisory system to detect potentially manipulative trading until 2015.
  • It did not have enough resources and manpower to supervise manipulative practices.
Friday, 22/07/2022 | 07:03 GMT by Arnab Shome
Institutional FX

FINRA Imposes $325,000 Fine on BofA Securities

  • BofAS has been a member of FINRA since 2018.
  • According to the regulatory authority, the company violated Regulation NMS Rule 605 and FINRA Rule 2010.
Monday, 18/07/2022 | 08:07 GMT by Bilal Jafar
Institutional FX

Barclays Pays $2.8M Fine for Customer Confirmation Non-Compliance

  • There were 11 underlying issues resulting in failure.
  • The bank was aware of the inaccuracies from mid-2017.
Thursday, 30/06/2022 | 11:08 GMT by Arnab Shome
Institutional FX

FINRA Fines National Securities Corp $9 Million for Market Violations

  • The firm is accused of attempting to artificially influence the aftermarket.
  • It includes a disgorgement of $4.77 million in net profits.
Thursday, 23/06/2022 | 17:23 GMT by Felipe Erazo
Executive Moves

Michael Solomon Becomes FINRA’s Senior Vice President of Examinations

  • He worked for firms like Jefferies, UBS and Merrill Lynch.
  • Solomon previously was employed in FINRA in an executive role.
Thursday, 02/06/2022 | 21:22 GMT by Felipe Erazo
Institutional FX

Cboe’s BIDS Trading Fined $200K for Overstating Trade Volume

  • It overstated the advertised trade volumes due to system errors.
  • It has already accepted the penalty order.
Thursday, 26/05/2022 | 08:50 GMT by Arnab Shome
Brokers

FINRA Imposes $75,000 Penalty on Crown Capital

  • The authority fined Crown Capital in violation of FINRA rules 2040 and 2010.
  • Crown Capital has been a member of FINRA since 1972.
Monday, 14/03/2022 | 12:16 GMT by Bilal Jafar
Institutional FX

FINRA Fines Deutsche Bank Securities for Best Execution Violations

  • The authority alleges that SuperX trading system created an inherent delay for orders.
  • DBS also failed to disclose material aspects of its relationship with the markets.
Tuesday, 08/03/2022 | 19:15 GMT by Felipe Erazo
Institutional FX

Barclays Fined $350K for Lapses in Market Access Controls

  • It has already agreed to pay the penalty imposed by FINRA.
  • The failure impacted thousands of executed orders.
Friday, 25/02/2022 | 10:31 GMT by Arnab Shome
Brokers

FINRA Fines Former Interactive Brokers AML Compliance Officer

  • He was blamed for severe lapses and ignorance in performing his duty.
  • He has already agreed to the order of the regulator.
Monday, 14/02/2022 | 12:16 GMT by Arnab Shome
Executive Moves

Credit Suisse Onboards Robery Huray as SE Asia Investment Banking Vice-Chairman

  • Huray will be in charge of coverage in SE Asia of the global industrials group.
  • Nick Thursby Also Joins as the Head of Financial Institutions Group in SE Asia.
Monday, 31/01/2022 | 11:54 GMT by Tom Hazan
Regulation

Crypto Exchange Gemini Affiliate Gains FINRA Broker-Dealer License

  • The platform can now launch ATS to facilitate securities token trading.
  • It has also become a member of FINRA.
Thursday, 27/01/2022 | 13:51 GMT by Arnab Shome
Brokers

FINRA Fines E*TRADE $350K for Surveillance Failures

  • The lapses caused the inability to detect market manipulations.
  • The trading platform already accepted the order and agreed to pay the fine.
Wednesday, 12/01/2022 | 07:18 GMT by Arnab Shome
Institutional FX

FINRA Fines StoneX $60,000 for Compliance Failures

  • StoneX neither accepted or denied the allegations, but consented to the order.
Tuesday, 23/11/2021 | 08:31 GMT by Arnab Shome
Retail FX

FINRA Warns on a Phishing Email Campaign Using Imposter Domain Names

  • At least three domains were detected by the regulator which already requested the domain registrar to suspend them.
Friday, 13/08/2021 | 23:26 GMT by Felipe Erazo
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