gmarone@quadrantregulatory.com

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So far Glenn Marone has created 330 entries.

FINRA 2018 Regulatory and Examination Priorities Letter

Today, FINRA published its Annual Regulatory and Examination Priorities Letter to highlight issues of importance to FINRA’s regulatory programs. The 2018 Regulatory and Examination Priorities Letter identifies topics that FINRA will focus on in the coming year, and these include some new topics as well as others that remain ongoing areas of focus.  Quadrant will […]

FINRA Warns Investors: Don’t Fall for Cryptocurrency Related Stock Scams

WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today issued an Investor Alert warning investors to beware of potential stock scams when considering the purchase of shares of companies that tout high returns associated with cryptocurrencies, such as bitcoin.

Unrealistic predictions of exponential returns and unsubstantiated claims made through press releases, spam email, telemarketing calls, or posted […]

FINRA Fines Goldman Sachs & Co. LLC for Failing to Deliver ETF Prospectuses

Between June 2008 and October 2014, Goldman Sachs Execution and Clearing, L.P. (“GSEC”), an affiliate of Goldman Sachs & Co. LLC (“GSCO”) at the time, cleared over 100 million ETF purchases for its own customers, primarily institutional market participants, and for customers of over 100 introducing brokers. GSEC designed a system to deliver prospectuses for […]

FIX Format Changes

Starting Monday, March 5, 2018, FINRA will require a change to FIX Tag 22007 (Execution Time) to more accurately process execution time during Daylight Savings Time (DST) changes. This update affects firms’ transaction reports for all FINRA Multi Product Platform Products (MPP), including TRACE, The Over the Counter Trade Reporting Facility (ORF) and The […]

Enhance Customer Due Diligence Requirements for Financial Institutions

FINRA issued Regulatory Notice 17-40 to provide guidance regarding member firms’ obligations under FINRA Rule 3310 (Anti-Money Laundering Compliance Program) in light of the Financial Crimes Enforcement Network’s (FinCEN) adoption of a final rule on Customer Due Diligence Requirements for Financial Institutions (CDD Rule).

FinCEN’s CDD Rule became effective July 11, 2016. Member firms must […]

Order Routing Conflicts Targeted Exams

FINRA is conducting a sweep reviewing for potential conflicts from broker-dealers accepted payment for order flow and rebates. Below is a template of the letters being sent to selected member firms.
November 2017

The Trading & Financial Compliance Examinations (TFCE) section of the Market Regulation Department (Market Regulation) at the Financial Industry Regulatory Authority, Inc. (FINRA) […]

FinCEN Warns Financial Institutions to Guard Against Corrupt Venezuelan Money Flowing to U.S.

The Financial Crimes Enforcement Network (FinCEN) issued an advisory to alert financial institutions of widespread public corruption in Venezuela and the methods Venezuelan senior political figures (and their associates and front persons) may use to move and hide corruption proceeds. This advisory also provides financial red flags to assist in identifying and reporting to FinCEN […]

SEC Risk Alert: Cybersecurity: Ransomware Alert

Starting on May 12, 2017, a widespread ransomware attack, known as WannaCry, WCry, or Wanna Decryptor, rapidly affected numerous organizations across over one hundred countries. 2 Initial reports indicate that the hacker or hacking group behind the attack is gaining access to enterprise servers either through Microsoft Remote Desktop Protocol (RDP)3 compromise or the […]

2017 FINRA Risk Control Assessment (RCA)

FINRA’s 2017 Risk Control Assessment (RCA) survey launched this week. Each firm’s executive representative and designated assistant should have received an email linking to their firm’s unique RCA survey. The RCA is an important part of FINRA’s risk-based surveillance and examination program. FINRA uses it to better understand the risks associated with the business […]

FINRA Requests Comment on Proposed Limited Safe Harbor From FINRA Equity and Debt Research Rules for Desk Commentary

FINRA seeks comment on proposed amendments to FINRA Rule 2241 (Research Analysts and Research Reports) and FINRA Rule 2242 (Debt Research Analysts and Debt Research Reports) to create a limited safe harbor for specified brief, written analysis distributed to eligible institutional investors that comes from sales and trading or principal trading personnel but that […]