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Court KOs Finra’s fine-collecting
A U.S. Circuit Court of Appeals today ruled that the Financial Industry Regulatory Authority Inc. has no right to collect fines through court judgments
Due-diligence woes bite Capital Financial again
Broker-dealer agrees to pay $200K to settle Finra allegations it sold unsuitable private placements; SEC charges still pending
Enter bashing: Finra small-firm candidates tee off on each other
Gloves off early as Fischer, Sobel engage in a little smackdown; 'rent-a-finop'
Merrill Lynch fined $1M in broker’s fraud
Bank of America Corp.'s Merrill Lynch unit will pay $1 million to resolve claims that supervisory failures enabled a Texas-based representative to operate a Ponzi scheme using a company account.
<font color=red>FPA Convention </font> Rep fiduciary rule would give Finra leg up as adviser SRO
Would make moot argument that B-D regulator has no experience enforcing stricter standard
Regulator wants to firm up pricing of illiquid securities
Finra is continuing to shake up the way broker-dealers show the value of illiquid investments such as non-traded real estate investment trusts and private placements on clients' account statements.
‘Not priced’ REITs rattle Lerner clients
Clients of David Lerner Associates Inc. holding shares in nontraded REITs created by Apple REIT Cos. Inc. received account statements at the end of last month in which the longtime value of the shares was shown as “not priced”
Apple REIT takes hit after pricing gap is revealed
The price of one in a series of 10 nontraded REITs sold exclusively through David Lerner Associates Inc. took a hit yesterday when management from Apple REIT Eight Inc. said that its book value was $7.57 per share at the end of March, according to a filing with the Securities and Exchange Commission. That's in contrast to the $11-per-share price that Apple REIT Eight posted last week in a separate SEC filing.
Finra yanks controversial rules
In a little-noticed but surprising move, the Financial Industry Regulatory Authority Inc. last week withdrew a controversial proposal to revamp its supervisory rules that would have, among other things, required supervision of nonsecurities-related businesses.
SRO battle intensifies; will independents have a separate regulator?
The latest scrum over how to boost oversight of financial advisers suggests that independent advisers may have to accept an entirely new self-regulator if they want to avoid coming under Finra's jurisdiction
Finra proposal could aid broker class actions
The regulator wants to ban from its arbitration forums so called “collective action” claims brought under the Fair Labor Standards Act or the Age Discrimination in Employment Act.
So long, Sallie
Former Bank of America wealth management chief Sallie L. Krawcheck quietly stepped down from her Finra board seat sometime in the past week or so, according to published reports
Sterne Agee ordered to pay $5.7M award for firing trader
Employee terminated 'without cause,' Finra panel says; firm owed trader 'serious amount of money,' attorney claims
Finra plan aims to bring nontraded-REIT pricing up to par
A new Finra proposal would drastically change how the value of nontraded real estate investment trusts appears on…
RJ units to pay $2.1M over commissions
Two broker-dealer subsidiaries of Raymond James Financial Inc. were ordered last week to pay $2.1 million in fines…
Veteran enforcement official leaving Finra
James Shorris to return to the private sector after seven years with regulator; had said private placement crackdown was top priority
Finra names new enforcement chief
J. Bradley Bennett, a partner at Baker Botts LLP, to take over in January
Source: Finra finds a new head of enforcement
Bradley Bennett, currently a partner at Baker Botts LLP, is set to take over as head of enforcement at the Financial Industry Regulatory Authority
Faster pricing of nontraded REITs sought
Finra is putting the finishing touches on a rule proposal that would shorten the amount of time available to broker-dealers to come up with estimated valuation of a nontraded REIT
Finra’s Ketchum: We can oversee advisers, too
SRO's boss will tell Congress self-regulator 'uniquely positioned' to monitor investment advisers
