Author: Admin
FINRA Announces Interim Progress of Voluntary 529 Plan Share Class Initiative
$2.7 Million in Restitution to Customers; Two Matters Resolved Through Settlements and 17 Matters Resolved Through Cautionary Actions, Resulting in Remediation to Customers and Correction of Supervisory Deficiencies WASHINGTON—FINRA today announced initial results of its voluntary self-reporting 529 Plan Share…
FINRA Board Appoints Deborah Bailey and Kathryn Ruemmler as Newest Governors
WASHINGTON – The FINRA Board of Governors has appointed Deborah Bailey and Kathryn Ruemmler as new Governors. Bailey will serve as a public member, and Ruemmler as an industry member.
New Research: Global Pandemic Brings Surge of New and Experienced Retail Investors Into the Stock Market
WASHINGTON, D.C.— In a year when a pandemic gripped the world, beginning and experienced retail investors flocked to the stock market using taxable, non-retirement investment accounts, according to new research by the FINRA Investor Education Foundation (FINRA Foundation) and NORC…
FINRA Publishes 2021 Report on FINRA’s Examination and Risk Monitoring Program
Report Combines and Replaces Annual Exam and Risk Monitoring Findings Report, Priorities Letter Washington, D.C. – FINRA today published the 2021 Report on FINRA’s Examination and Risk Monitoring Program to inform member firms’ compliance programs by providing annual insights from…
Statement by FINRA President and CEO Robert W. Cook Upon the Death of Former NASD Chairman and CEO Robert Glauber
WASHINGTON—FINRA mourns the loss of former NASD Chairman and CEO Robert Glauber, a tireless advocate for the interests of investors and sound financial regulation throughout his distinguished career in the private, public and academic sectors.
FINRA Appoints Scott W. Anderson as Head of Market Regulation and Transparency Services
WASHINGTON—FINRA announced today that it has appointed Scott W. Anderson as Executive Vice President and Head of Market Regulation and Transparency Services. Anderson began his career at NASD, FINRA’s predecessor organization, and has 25 years of experience working on complex…
FINRA Orders Worden Capital Management LLC to Pay More than $1.2 Million in Restitution to Customers Whose Accounts Were Excessively Traded
Firm Also Fined $350,000 for Failing to Reasonably Supervise Recommended Securities Transactions and Other Violations WASHINGTON—FINRA announced today that it sanctioned Worden Capital Management LLC (WCM) more than $1.5 million, including approximately $1.2 million in restitution to customers whose accounts…
FINRA Sanctions Transamerica Financial Advisors, Inc. $8.8 Million for Supervisory Violations Related to Variable Annuities, Mutual Funds and 529 Plans
Firm Ordered to Pay $4.4 Million in Restitution to Approximately 2,400 Affected Customers WASHINGTON—FINRA announced today that Transamerica Financial Advisors, Inc. (TFA) has agreed to pay approximately $4.4 million in restitution to approximately 2,400 customers for failing to supervise its…
AG Ferguson: Judge rules national student loan servicer Navient broke the law in servicing student loan debt
SEATTLE — A King County Superior Court judge ruled that Navient, the country’s largest student loan servicer, violated the Consumer Protection Act by engaging in unfair and deceptive conduct related to Washingtonians’ student loans. This is the first time a…
Ohio Treatment Facilities and Corporate Parent Agree to Pay $10.25 Million to Resolve False Claims Act Allegations of Kickbacks to Patients and Unnecessary Admissions
Oglethorpe Inc. and its three Ohio facilities, Cambridge Behavioral Hospital, Ridgeview Behavioral Hospital, and The Woods at Parkside, will pay $10.25 million to resolve alleged violations of the False Claims Act for improperly providing free long-distance transportation to patients and…
