FINRA Unscripted Podcast

FINRA Enforcement: Bringing Cases Against Individual Brokers

On September 20th, FINRA released the podcast FINRA Enforcement: Bringing Cases Against Individual Brokers.  This podcast provides background information on how the enforcement process works against individual registered representatives. Mr. Chris Kelly, Deputy Head of Enforcement, was the guest on the show. Below is a summary of key considerations and takeaways for Firm’s and Brokers. Type of Cases Brought Against Individual Brokers Mr. Kelly noted that there are a wide range of cases brought against an individual broker. These can include failure to report an outside business activity, private securities transactions (aka selling away from the firm), fraud, excessive and Read more about FINRA Enforcement: Bringing Cases Against Individual Brokers[…]

Enforcement Actions

SEC Enforcement Actions: Key Takeaways for 2020

Enforcement actions can be scary, especially if you or your Firm are named in the enforcement. For the rest of us, enforcement actions provide valuable information on patterns of misconduct, rule violations, and overall cautionary tales.

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Recent Enforcement Actions from FINRA

As summarized below, FINRA recently announced some recent enforcement actions against member firms that we wanted to share with you.  We have selected these specific cases to share as we feel these are very important areas of compliance within a broker-dealer.  More importantly, each of the examples summarized below were easily preventable.  Firms must ensure that its personnel receive adequate training and have the requisite experience when assigned supervisory responsibilities, and also have an obligation to ensure its policies and procedures are being followed. Read More…