A firm settled FINRA charges for failing to implement adequate systems to review suspicious activity in customer accounts, conduct independent testing of its AML program and provide reasonable training to employees responsible for implementing the program.
News & Insights
The SEC approved FINRA rule amendments to accelerate the reporting on TRACE of transaction information in the market for certain U.S. Treasury Securities.
In an Investor Insight article, titled: "Understanding Settlement Cycles: What Does T+1 Mean for You?" FINRA advised retail customers who do not currently keep their cash and securities with their broker-dealer, to deliver assets required for settlement by the day following trade date.
A municipal securities firm settled FINRA charges for failing to file complete and timely quarterly reports with the Municipal Securities Rulemaking Board and for failing to establish, maintain, and enforce an adequate supervisory system.
The MSRB set a comment deadline of February 26, 2024 on proposal to shorten the time allowed for post-trade reporting. The proposal was published in the Federal Register.