A broker-dealer settled charges with FINRA it sent confirmations to institutions' customers that "inaccurately reflected the capacity in which the firm acted."
News & Insights
A broker dealer settled FINRA charges for failing to disclose to retail customers markup and markdown information on transactions in debt securities, including municipal securities and corporate and agency debt.
The SEC postponed the effective date of the "Share Repurchase Disclosure Modernization Rule," which requires issuers to provide additional information on the purpose of their repurchase programs. The SEC announced a stay of the "Repurchase Rule" in order to address Administrative Procedure Act deficiencies found by the Fifth Circuit Court of Appeals.
A broker-dealer settled charges with FINRA for failing to include required information on customer confirmations for municipal securities transactions.
The U.S. Court of Appeals for the Fifth Circuit ordered the SEC to "correct defects" in its final rulemaking on issuer repurchase disclosures.