A broker-dealer settled SEC charges for failing to comply with Regulation Best Interest in connection with recommendations to retail brokerage customers purchasing mutual fund shares in their IRAs.
News & Insights
In a jointly issued investor alert, the SEC Office of Investor Education and Advocacy, the North American Securities Administrators Association and FINRA warned investors of the increased risks of fraud involving "the purported use of artificial intelligence and other emerging technologies."
FINRA proposed rule amendments to strengthen the general prohibition against borrowing and lending arrangements with customers, narrow certain exceptions to those prohibitions and enhance the notification requirements for approval of such arrangements.
A firm settled FINRA charges for placing transactions for customers directly with product sponsors, without recording such transactions in the firm's records or supervising their suitability.
Director of the SEC Office of Municipal Securities Dave A. Sanchez raised supervisory concerns over evolving deal structures amid low issuance in the municipal securities market.