Published by Herskovits PLLC

FINRA Lawyer Blog

Mexico in Crosshairs Of Precedent Setting 2016 FCPA Enforcement Actions

Mexico in Crosshairs Of Precedent Setting 2016 FCPA Enforcement Actions

February 6, 2017

It may come as no surprise that doing business in China holds a high risk of Foreign Corrupt Practices Act (FCPA) violations. However, the record-setting numbers of FCPA enforcement actions seen in 2016 placed Mexico in a close second.
With increases in multi-jurisdictional anti-corruption...


FINRA Fines Credit Suisse $16.5M for Anti-Money Laundering Program Failures

FINRA Fines Credit Suisse $16.5M for Anti-Money Laundering Program Failures

January 17, 2017

Credit Suisse Securities U.S.A. LLC has agreed to pay $16.5 million to resolve Financial Industry Regulatory Authority (FINRA) allegations that the firm violated anti-money laundering (AML) program regulations, supervision requirements and other policies, FINRA reported Monday.
Specifically,...


FINRA Enforcement Focus 2017: 6 Common Broker-Dealer AML Program Deficiencies

FINRA Enforcement Focus 2017: 6 Common Broker-Dealer AML Program Deficiencies

January 9, 2017

As the Financial Industry Regulatory Authority (FINRA) continues to crack down on broker-dealers with anti-money laundering program (AML)-related deficiencies, broker-dealers and AML compliance officers (AMLCOs) should take note of the most common AML program compliance deficiencies mentioned in...


Merrill Lynch Pays $7 Million Penalty for Inadequate Brokerage Account Supervision

Merrill Lynch Pays $7 Million Penalty for Inadequate Brokerage Account Supervision

November 30, 2016

The Financial Industry Regulatory Authority (FINRA) has fined Merrill Lynch, Pierce, Fenner & Smith Inc. $6.25 million for inadequately supervising its customers’ use of leverage in their Merrill brokerage accounts. The firm has also agreed to pay approximately $780,000 in restitution to...


FINRA Fines VALIC Financial Advisors $1.75M for Compensation Plan Conflicts of Interest

FINRA Fines VALIC Financial Advisors $1.75M for Compensation Plan Conflicts of Interest

November 28, 2016

VALIC Financial Advisors Inc. has agreed to pay $1.75 million to resolve Financial Industry Regulatory Authority (FINRA) allegations that the firm failed to implement reasonable systems to address and review conflicts of interest created by its compensation policy, FINRA reported Monday.
The...


Avoiding Emerging Cybersecurity Whistleblower Pitfalls

Avoiding Emerging Cybersecurity Whistleblower Pitfalls

November 15, 2016

Securities law violations are a major focus of regulatory compliance programs across the industry. Yet not all organizations realize the threat cybersecurity breaches pose to company viability. A new breed of corporate whistleblower is cropping up among marketplace professionals – the...


SEC Announces Record Enforcement Actions for FY2016

SEC Announces Record Enforcement Actions for FY2016

November 1, 2016

On October 11, 2016, the U.S. Securities and Exchange Commission (SEC) released its fiscal year 2016 (FY2016) enforcement results, reporting collections totaling over $4 billion in disgorgement and penalties out of a record 868 enforcement actions against executives, companies and...


Capital Acquisition Brokers: Is FINRA’s New Broker-Dealer Category a Good Deal?

Capital Acquisition Brokers: Is FINRA’s New Broker-Dealer Category a Good Deal?

October 1, 2016

On August 18, the U.S. Securities and Exchange Commission (SEC) announced it has adopted new rules proposed by the Financial Industry Regulatory Authority (FINRA) that lessen the requirements for “capital acquisition brokers” (CABs) - firms that serve to advise private placements or...


VisitHerskovitsLaw.com
HerskovitsLaw.com
Securities Defense Lawyers & High Stakes Comp Disputes