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FINRA Sanctions IG Group's tastytrade for Alleged Two-Year Compliance Lapse
- The company faces a $30,000 fine for failing to properly supervise employees outside trading accounts between 2021–2023.
- The Chicago-based retail trading platform agreed to settle without admitting or denying the findings.
Thursday, 28/11/2024 | 11:03 GMT by
Damian Chmiel
FINRA Licenses Netcapital as Broker-Dealer
- The approval allows Netcapital to syndicate deals and offer more extensive fundraising options.
- The company now aims to democratize private equity investment by using its fintech platform to improve online fundraising.
Tuesday, 26/11/2024 | 15:11 GMT by
Jared Kirui
Record Keeping Error in Stock Lending Program Costs Interactive Brokers $475K
- The brokerage incorrectly calculated the number of excess shares of stocks listed on European exchanges it had available to return to its customers.
- It also allowed an unregistered associated person to lead and oversee some software development efforts concerning its securities finance business.
Wednesday, 23/10/2024 | 06:48 GMT by
Arnab Shome
Regulators’ Future Directions for AI: Potential Conflicts of Interest
- FINRA warns of AI as an emerging risk, stressing the need for thorough review of AI-generated content.
- SEC targets ‘AI-washing,’ addressing firms that exaggerate AI use to mislead investors.
Monday, 12/08/2024 | 10:58 GMT by
Harriet Christie
StoneX FX/CFDs Revenue Up by 6%, but FINRA Fine Overshadows Record Operating Numbers
- The company achieved the highest revenues in its history, $468.5 million, and higher CFD numbers.
- However, the positives are eclipsed by a decline in net profit and a fine of $75,000.
Wednesday, 07/08/2024 | 06:25 GMT by
Damian Chmiel
FINRA Boosts Enforcement Team with Two New Senior VP Appointments
- The authority has appointed Julie Glynn and Tina Gubb to oversee high-impact investigations and disciplinary actions across the enforcement department.
- Gubb has led high-profile investigations and settlements at FINRA, including a $24 million settlement with BofA Securities in 2023 for spoofing in Treasury securities.
Wednesday, 17/07/2024 | 17:04 GMT by
Jared Kirui
SEC, MSRB, and FINRA Gear Up for Municipal Market Compliance Program
- Municipal advisors and dealers can attend in person or virtually to learn about regulatory updates and compliance challenges.
- Topics include fiduciary duties, compliance pain points, and post-trade monitoring in the municipal market.
Monday, 01/07/2024 | 14:54 GMT by
Tareq Sikder
TradeZero America to Pay $250,000 in FINRA Settlement over Influencer Marketing Missteps
- The regulator identified wrongdoings related to social media influencer promotions.
- The firm has agreed to the sanctions and has revised its supervisory procedures.
Tuesday, 11/06/2024 | 07:20 GMT by
Damian Chmiel
FINRA Penalizes BofA Securities for Inadequate Supervisory Systems
- The regulator charged BofA Securities for violating security distribution regulations between 2019 and 2022.
- These regulations aim to prevent manipulation by restricting certain actions that could influence pricing.
Thursday, 30/05/2024 | 13:08 GMT by
Jared Kirui
FINRA Embraces Fractional Share Trading, to Overhaul Reporting Standards
- The new guidelines mandate reporting both whole share and fractional share quantities.
- Currently, FINRA's trade reporting rules do not support reporting fractional share quantities.
Friday, 22/03/2024 | 20:36 GMT by
Jared Kirui
FINRA Slaps M1 Finance with $850,000 Fine for Misleading Social Media Influencer Posts
- The fine involves a marketing campaign by the fintech firm featuring 1,700 social media influencers.
- According to the regulator, the social media posts did not accurately represent the firm's margin lending program.
Monday, 18/03/2024 | 18:57 GMT by
Jared Kirui
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