Recent Posts by admin

SEC Charges Goldman Sachs $15 Million Penalty for Violations

The Securities and Exchange Commission (SEC) announced that Goldman, Sachs & Co. agreed to pay the $15 million penalty to settle charges that its securities lending practices violated Rule 203(b)(1) of Regulation SHO and Section 17(a) of the Securities Exchange Act. 

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SEC Announces 2016 Exam Priorities

Jan 11, 2016, the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) published examination priorities for 2016.

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FINRA Announces 2016 Priorities, Plans to Focus on Firm Culture

The Financial Industry Regulatory Authority Inc. (FINRA) highlighted a firm’s culture of compliance as being of utmost importance in the regulator’s 2016 annual examinations letter released on Tuesday.

"A firm's culture is both an input to and product of its supervisory system, including its approaches to identifying and managing conflicts of interest and ensuring the ethical treatment of customers," FINRA explained in its annual letter to members.  

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FINRA Orders More Than $30 Million in Restitution

FINRA fined Morgan Stanley Smith Barney, LLC (Morgan Stanley) $650,000 and Scottrade, Inc. $300,000 for failing to implement reasonable supervisory systems to monitor the transmittal of customer funds to third-party accounts. Both firms were cited for the weak supervisory systems by FINRA examination teams in 2011, but neither took necessary steps to correct the supervisory gaps.

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SEC's Gallagher Criticizes Recent Enforcement Actions

SEC released the statement on June 18th.

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