Those who follow the financial industry are likely familiar with actions taken by the Financial Industry Regulatory Authority, whose mission is to protect investors and ensure the market’s integrity by overseeing U.S. broker-dealers. But to provide a closer look at...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: May 2024
Former Nuveen trader asks for judge for leniency in insider trading sentence
A former Nuveen trader who was involved in an insider trading scheme is asking a federal judge for leniency in his sentence next week, according to AdvisorHub. 53-year-old Lawrence Billimek pleaded guilty in November to passing tips about planned Nuveen stock...
FINRA answers members’ frequently asked questions on advertising regulation
The Financial Industry Regulatory Authority is providing its members with information they need to help them understand and apply its advertising rules. On its web site, FINRA has a rundown of key topics related to Rule 2210, which involves communications with the...
FINRA provides guidance for firms on new rule involving remote inspections
The Financial Industry Regulatory Authority is providing guidance to member firms on the new rules regarding its remote inspection program, according to ThinkAdvisor. The plan, allowing broker-dealers to inspect their branch offices remotely rather than in-person and...
FINRA penalizes SoFi $1.1 million for violations involving fraud prevention
Brokerage firm SoFi Financial was hit with a $1.1 million fine from the Financial Industry Regulatory Authority over fraud prevention failures, ThinkAdvisor reported. The San Francisco-based firm was found to have failed to establish and maintain a reasonable Customer...