Tag: FINRA

FINRA
March 14, 2022 BY Steffy Bogdanova

Crown Capital Securities to pay $75K fine imposed by FINRA

FINRA stated: Between January 2017 and January 2021, Crown Capital paid approximately $19.3 million in commissions earned by 18 of its registered representatives to 18 unregistered entities. The unregistered entities were corporations and limited liability companies created by the registered representatives to serve as doing business as names for their securities businesses and were disclosed…

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finra
February 25, 2022 BY Steffy Bogdanova

FINRA fines Barclays $350K for market access controls failures

As result, Barclays the routed 19,500 orders for 2,500,000 contracts to the market unchecked. Of those 9,500 orders for 1,125,000 contracts were executed. Additionally, the firm did not prevent the entry of erroneous orders of a total of $11.8 million, rather than the intended $118,000. The company has accepted FINRA’s monetary penalty but has not…

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finra
August 16, 2021 BY Steffy Bogdanova

FINRA releases warning about phishing email scam

Because the domains show some similarities to the official FINRA domain, it could easily confuse some people. This is especially true if they are relatively new to the company or are not particularly tech literate. FINRA has made it clear that it is important to provide training to employees to ensure that they are aware…

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Robinhood
July 29, 2021 BY Steffy Bogdanova

Robinhood attracts heavy regulatory demands

As a public company Robinhood will now be required to release quarterly financial results. Those will include previously undisclosed information on the crypto and options trading contribution to the company’s revenue. The public listing will also require the company to announce any sort of information that may affect its stock price such as government probes,…

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Robinhood
July 01, 2021 BY Alan Sayer

Robinhood breaks record for largest FINRA penalty with $70 million

One tragic impact of Robinhood’s failures was the suicide of a 20-year-old trader. FINRA noted that the trader had turned margin off on his Robinhood account, so was shocked to find margins had been used. On top of this, the Robinhood app showed a negative balance on his account, which wasn’t accurate. Robinhood’s behaviour directly…

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Apifiny earns broker-dealer license from FINRA for subsidiary firm
April 30, 2021 BY Steffy Bogdanova

Apifiny earns broker-dealer license from FINRA for subsidiary firm

Haohan Xu, CEO of Apifiny, said: As we accelerate our product development, partnerships, hiring, and overall growth toward a public offering, securing this first phase of our broker-dealer license is a major milestone. Apifiny is able to connect to worldwide cryptocurrency exchanges, working to provide a single market opportunity to its professional trade clients. Not…

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