The Financial Industry Regulatory Authority announced that it has fined UBS Financial Securities $850,000 for the brokerage’s failure to monitor the transfer of customer funds to third parties and respond appropriately to any red flags indicating potential private securities transactions. The penalty stems from UBS’s failure to detect that one Read More
The Financial Industry Regulatory Authority (FINRA) recently announced that it has fined Goldman Sachs for not properly monitoring trades ranging from 2009 to 2023. The banking giant has agreed to pay around $500,000 in order to settle these claims, but did not admit or deny any of FINRA’s findings. According Read More
GUEST BLOG POST Leaders in any industry must anticipate the challenges–and opportunities–their companies face. As compliance practitioners responsible for trade surveillance, are we keeping pace with current and future challenges? Some evidence to consider: A top-tier bank was found to have no surveillance on its voice-brokered swaps desk, resulting in Read More
The Financial Regulatory Authority on Oct. 4 fined UBS $2.5 million for Regulation SHO (Reg SHO) violations and supervisory failures that spanned nine years, FINRA said. In settling this matter, UBS consented to the entry of FINRA’s findings without admitting or denying the charges. In addition to the censure and Read More
For the third time in eight years, Merrill Lynch, Pierce, Fenner & Smith has been ordered by the Financial Industry Regulatory Authority (FINRA) to pay restitution to thousands of its customers who were charged more than necessary related to mutual fund shares. In this latest action, Merrill Lynch agreed to Read More
