Blog

Summaries and explanations of the latest regulatory compliance announcements, reports and related stories.

Regulatory Briefs Jon Hurd Regulatory Briefs Jon Hurd

April 2021 FINRA Disciplinary Actions

RNR Securities LLC was fined $15,000 for failing to inspect its Office of Supervisory Jurisdiction (“OSJ”) properly. RNR Securities’ written reports concerning inspections of its OSJ branch and non-OSJ branch failed to evidence proper testing of RNR Securities’ policies and procedures. The report did not describe how the review was performed nor how RNR Securities determined that there were no issues or concerns.

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Regulatory Briefs Jon Hurd Regulatory Briefs Jon Hurd

FINRA Disciplinary Action: August 2020

Firms Fined. Exane, Inc. was fined$50,000 for failing to establish management controls and supervisory procedures to manage the financial and regulatory risks of the business. The firm’s credit limit controls were not automated nor applied on a pre-trade basis to prevent order entries that exceeded the pre-set capital thresholds for each customer.

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Regulatory Briefs Olivia Scuteri, CAMS Regulatory Briefs Olivia Scuteri, CAMS

July 2019 FINRA Disciplinary Actions

The following disciplinary actions were taken against both firms and individuals due to violations of FINRA rules, federal securities laws and MSRB rules. Firm Fined: Midtown Partners & Co., LLC. The Firm was fined $50,000 for failing to enforce the policies and procedures outlined in its WSPs related to the trading of securities on the Restricted List and Watch List.

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