Bank of America (NYSE:BAC) unit Merrill Lynch has been fined by US financial regulator FINRA a total of $6 million for violations relating to short selling. The FINRA press release follows, and can also be seen here. FINRA Fines Merrill Lynch a Total of $6 Million for Reg SHO Violations and Supervisory Failures WASHINGTON —…
Read moreFuad Ahmed and his firm Success Trade Securities ordered to ordered to pay approximately $13.7 million in restitution to 59 investors.
Read moreFINRA makes dark pool data available free to the investing public
Read moreBoth companies failed to mitigate increased risks associated with Inverse and leveraged ETFs A press release has been issued by the Financial Industry Regulatory Authority (FINRA) regarding a decision to fine two Saint Louis based broker-dealers both owned by Stifel Financial Corporation. Stifel, Nicolaus & Co. and Incorporated and Century Securities Associates are to pay…
Read moreThe bank failed to keep some instant messages from Bloomberg Terminals, FX fix investigations related? On the second day of Christmas… FINRA settled with Barclays for systematically failing to keep proper records of emails and instant messages for 10 years. The company did not abide by securities laws that mandate companies to keep and protect…
Read more84 customers affected by the company's misleading statements on leveraged and inverse ETFs The Financial Industry Regulatory Authority (FINRA) has made an announcement today that it has mandated Atlanta-based brokerage J.P. Turner to pay back $707,559 to 84 customers who were sold leveraged and inverse exchange traded funds (ETFs) plus for excessive mutual fund switches.…
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