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FINRA Fines Rodman Renshaw $315,000 for Supervisory and Information Barrier Violations; Former CCO and Two Research Analysts Sanctioned

FINRA announced that it has fined Rodman Renshaw LLC $315,000 for supervisory and other violations related to the interaction between the firm's research and investment banking functions. The firm's supervisory system was found to be deficient, resulting in a breakdown of the barriers required to be imposed between research and investment banking, including research analysts be rewarded for soliciting investment banking transactions.

Primary Sources

  1. View news release in full here (links externally to FINRA website).

Tags

Regulated Activities
Research Supervision / Compliance
Sub-Activity
Information Barriers, CCO Obligations
Regulated Entities
Broker-Dealers
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
FINRA