Archive

SEC Enforcement Executive Vows to Protect Retail Investors and Address Cyber Related Misconduct

At a recent Securities Enforcement Forum in Washington DC, Stephanie Avakian, co-director of the SEC’s Division of Enforcement, discussed the agency’s future priorities. Avakian emphasized that the mission of the Enforcement Division, to protect investors,…
read more

Have FINRA’s “Poor Investments” Affected its Members?

In a recent report, the Wall Street Journal said FINRA’s investments are underperforming. The self-regulatory organization boasts a $1 billion yearly budget, and it easily collects over $100 million per year through the imposition of…
read more

FINRA’s Competency Exam Updates Lower Barriers for Industry Newcomers

Aspiring brokers will no longer need a firm to sponsor them in order to take FINRA’s competency exams. The Securities and Exchange Commission has just approved FINRA Regulatory Notice  17-30, which will make this and other changes effective within…
read more

NASAA Releases Annual Enforcement Report – Registered Members Top Enforcement Actions

The North American Securities Administrators Association (NASAA) has just released its yearly Enforcement Report. Although NASAA is an international association of all state, provincial and territorial securities regulators in the United States, Canada, and Mexico,…
read more

SEC Accuses Two NYC Brokers of Defrauding Customers

The SEC has accused two former Alexander Capital LP brokers, William Gennity and Rocco Roveccio of engaging in unlawful trading and deception that caused their customers to lose hundreds of thousands of dollars, while they…
read more

FINRA VOWS TO LIMIT EXPUNGEMENTS – Rules and Realities

“Arbitrators have a unique, distinct role in ensuring that customer dispute information is expunged from the CRD system only when it has no meaningful investor protection or regulatory value.” FINRA (September, 2017) In a new…
read more

FINRA Censures and Fines New York Firm $750,000 Over Its Role In Death Put Scheme

FINRA announced it has just fined C.L. King & Associates $750,000. According to the Regulatory Authority´s decision, the broker-dealer has negligently made “material misrepresentations and omissions to issuers in connection with the firm’s redemptions of…
read more

Dishonest Trader Must Disclose Commodity Law Violations in Public Communications

Once in a while, regulators and courts take actions that have no precedent, but which may influence justice over time. That is the case of a recent ruling from a Florida federal judge, who ordered…
read more

FINRA CEO Cook Grilled by Congress on FINRA’s Financial Conduct

During a recent Financial Services Subcommittee oversight hearing, both Democrat and Republican lawmakers raised concerns before FINRA CEO Robert Cook. Some of the issues discussed were the Regulatory Authority’s standing as a private entity and…
read more

Evolution of Publicly Traded Stock Ownership in the US 1990s-2016

The last few years have seen an improvement in economic activity in the US. After median family net worth remained stagnant between 2010 and 2013, house prices are now rising, corporate equity prices are also…
read more