A broker-dealer settled FINRA charges for failing to establish and maintain a supervisory system concerning (i) the qualitative suitability of products deemed high-risk and (ii) manipulative trading practices.
FINRA filed a proposed rule change to extend its current pilot program for reviews of clearly erroneous transactions in exchange-listed securities from the previous extension of April 20, 2020 to October 20, 2020.
FIA partnered with data analytics firm Greenwich Associates on a study of trends in the derivatives markets. Researchers surveyed market participants on derivative product usage, counterparty relationships and regulatory developments.
In a targeted examination, FINRA is seeking information on the practices of firms that charge zero commission on client trades and "the impact that not charging commissions has or will have on the Firm’s order routing."
Trade associations and state regulators offered several recommendations on the SEC proposal to "tighten" the requirements that broker-dealers must meet before being permitted to post public quotations on OTC securities.