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An AWC was issued in which Kimm was fined $5,000 and suspended from association with any FINRA member firm in all capacities for six months. In light of Kimm’s financial status, a lower fine was imposed. Without admitting or denying the findings, Kimm consented to the sanctions and to the entry of findings that he […]
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Raymond James Financial Services, Inc. $2 million for failing to maintain reasonably designed supervisory systems and procedures for reviewing email communications. In addition, Raymond James has agreed to conduct a risk-based retrospective review to detect potential violations evidenced in past emails. FINRA found […]
An AWC was issued in which the firm was censured and fined $250,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to supervise certain of its registered representatives to ensure their compliance with FINRA rules relating to outside business activities, private securities […]
An AWC was issued in which the firm was censured and fined $110,000. FINRA Issues AWC Concerning Wedbush Securities Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it engaged in trading unit aggregation but failed to ensure that individual traders were assigned to only […]
FINRA ordered Morgan Stanley to pay $13 million in fines and restitution to clients for failing to properly supervise trades that increased charges and fees to customers of certain investment funds. FINRA said that Morgan Stanley provided insufficient guidance to its staff on how to detect unsuitable short-term trades of unit investment trusts, or UITs. […]