‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInFINRA warns public about fake . . . FINRA – The FCPA Blog
The Financial Industry Regulatory Authority (FINRA) warned about con artists posing as FINRA to make phony investment pitches. Scammers are using FINRA’s name and logo in letters that say FINRA is guaranteeing investments. The letters include a fake signature from FINRA president and CEO Robert W. Cook. It’s actually an advance-fee scam. via FINRA warns […]
FINRA’s Budget, Released for First Time, Shows Revenue Problems
“FINRA is to be applauded for an unprecedented level of transparency into its budgeting process and financial challenges,” Brad Bennett, former FINRA enforcement chief who’s now a partner at Baker Botts in Washington, told ThinkAdvisor. “The 2018 budget underscores the magnitude of the operational hurdles faced by FINRA and the need for significant belt tightening,” […]
FINRA Identifies Specific Areas In Which Investment Firms Can Improve Cybersecurity Programs – Lexology
In December 2017, the Financial Industry Regulatory Authority (“FINRA”) released a report (available here) identifying and discussing observations from recent examinations of broker-dealer members—including observations related to cybersecurity. FINRA recognizes that “[c]ybersecurity is one of the principal operational risks facing broker-dealers.” The most common threats FINRA observed in 2016 and 2017 included phishing and spearphishing […]
Veteran FINRA Enforcer Emily Gordy Joins McGuireWoods in Washington
Emily P. Gordy, who managed enforcement operations at the Financial Industry Regulatory Authority and served as chief regulatory counsel for the nation’s largest independent broker-dealer, has joined McGuireWoods’ commercial litigation practice as a partner in Washington, D.C. via Veteran FINRA Enforcer Emily Gordy Joins McGuireWoods in Washington
Regulators Can’t Keep Up With Wall Street’s Robot Invasion – Bloomberg
“What you really need are computer geniuses who failed as algorithmic traders and are willing to switch sides,” said Brad Bennett, who was head of enforcement at the Financial Industry Regulatory Authority until earlier this year. “You have to be able to deconstruct the code.” via Regulators Can’t Keep Up With Wall Street’s Robot Invasion […]
FINRA Promotes Susan Schroeder to Head of Enforcement; Announces Plan to Consolidate Existing Enforcement Functions | FINRA.org
The Financial Industry Regulatory Authority (FINRA) announced today that it has promoted Susan Schroeder to Executive Vice President and Head of Enforcement. In addition, FINRA plans to consolidate its existing enforcement functions into a new, unified enforcement group led by Schroeder. This consolidation is a result of FINRA360, the organization’s ongoing comprehensive self-evaluation and improvement […]
FINRA Considering Merging Enforcement Programs, Cook Says | Bloomberg BNA
The Financial Industry Regulatory Authority is considering combining two of its enforcement programs to better streamline its processes. Currently, FINRA has two separate enforcement programs, one in its member regulation group, which focuses on member firms and their employees, and another in its market regulation group, which oversees over-the-counter trading. “We are one team, and […]
FINRA Comments After Senate Confirms Jay Clayton as SEC Chairman | Finance Magnates
After the Senate confirmed Jay Clayton as chairman of the Securities and Exchange Commission yesterday, the financial and regulatory associations have wasted little time in commenting and congratulating Trump’s nominee. via FINRA Comments After Senate Confirms Jay Clayton as SEC Chairman | Finance Magnates
‘Aggressive’ FINRA scrutiny expected as fines soar into multimillions | On Wall Street
A record year of FINRA enforcement activity heralds heightened scrutiny on a bevy of issues including cybersecurity, anti-money laundering policies and protection for senior clients, legal and regulatory experts caution. Analyzing the regulator’s 2016 enforcement actions, New York law firm Eversheds Sutherland found that while the total number of cases the industry regulator brought last […]
FINRA enforcement chief returns to Baker Botts — CDR
The chief of enforcement at US financial services regulator FINRA has returned to private practice, while McGuireWoods has made a Houston IP addition and Slaughter and May’s promotions exclude disputes lawyers. Baker Botts has made a significant addition to the strength of its white-collar and securities enforcement practice in Washington, DC with the hire of […]