Commentary by Steven Lofchie
A firm providing execution and routing services to broker-dealers and institutional customers settled FINRA and NYSE Arca charges for (i) effecting short sales without obtaining locates, (ii) reporting short sale transactions to the FINRA/NYSE trade reporting facility without short sale indicators and (iii) maintaining inaccurate blotters of its securities purchases and sales.
The Federal Financial Institutions Examination Council updated four sections and respective examination procedures in its Bank Secrecy Act / AML Examination Manual.
A broker dealer settled FINRA charges for supervisory violations over the firm's variable universal life insurance contracts and mutual fund business.
SIFMA raised concerns on a MSRB-proposed rule to codify previously issued interpretive guidance on conduct requirements applicable to solicitor municipal advisors.
OFAC authorized certain transactions involving the State Security Committee of the Republic of Belarus that are necessary for the importation, distribution or use of information technology products.