- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-10-03T16:45:00
The Financial Industry Regulatory Authority (FINRA) increased penalties for member violations of securities rules in new guidance.
Revisions to FINRA’s sanctions guidelines, effective Sept. 29, split the current guidelines for sanctions between individuals and firms and separate fine ranges for the latter into one range for small firms and another for mid-sized to large firms.
The guidelines establish new penalties for anti-money laundering (AML) violations, including removing the upper limit on certain fines for violations like failing to reasonably monitor and report suspicious transactions. The guidelines also provide fine ranges for individuals and lay out when a firm or individual should be suspended or expelled for misconduct.
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The Financial Industry Regulatory Authority’s annual report on examinations and risk monitoring indicated a new emphasis for the regulator on combating financial crime, particularly cybercrime.
UBS Securities agreed to pay $3.75 million to settle allegations brought by the Financial Industry Regulatory Authority that its failure to adequately supervise compliance staff led to millions of violations of options trading reporting requirements.
The Financial Industry Regulatory Authority announced an examination sweep of retail communications by broker-dealers and their affiliates related to cryptocurrency asset products and services.
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
