The Financial Industry Regulatory Authority said it is soliciting comment on a proposal to establish new requirements for member firms to manage liquidity risks, reports InvestmentNews. In Regulatory Notice 23-11, FINRA said the potential rule would be labeled Rule...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: June 2023
CFP Board releases year in review report on strengthening ethics program
The Certified Financial Planner Board of Standards has released its 2022 year in review report summarizing its work to uphold the profession’s ethical standards. The CFP Board said it has invested significant resources over the past several years to strengthen its...
FINRA fines Charles Schwab $350,000 over disclosure failures on ETNs
Charles Schwab & Co. Inc has been hit with a $350,000 fine for rule violations involving the disclosure of information to its clients, InvestmentNews reports. The fine was levied by the Financial Industry Regulatory Authority, which found that Schwab failed to...
SEC passes rules to prevent fraud, manipulation in security-based swaps
The Securities and Exchange Commission announced the adoption of new rules aimed at preventing fraud in connection with security-based swap transactions. The SEC defines a security-based swap as an agreement, contract, or transaction in which two parties agree to the...
Vanguard fined $800K by FINRA over misleading account statements
Vanguard Marketing Corp. has been fined $800,000 over misleading account statements that were sent to millions of customers, InvestmentNews reports. The Financial Industry Regulatory Authority found that from November 2019 to September 2020, Vanguard overstated...